3,874 Shares in Sonic Automotive, Inc. (NYSE:SAH) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new stake in Sonic Automotive, Inc. (NYSE:SAH) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,874 shares of the company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Sonic Automotive by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 381,211 shares of the company’s stock worth $18,207,000 after purchasing an additional 16,117 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Sonic Automotive by 1,841.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 301,526 shares of the company’s stock valued at $14,401,000 after acquiring an additional 285,999 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Sonic Automotive by 705.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 67,086 shares of the company’s stock valued at $3,204,000 after acquiring an additional 58,761 shares during the period. FMR LLC increased its stake in shares of Sonic Automotive by 2.0% during the 3rd quarter. FMR LLC now owns 57,581 shares of the company’s stock worth $2,750,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Sonic Automotive in the 4th quarter valued at about $1,770,000. Institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

NYSE SAH opened at $62.30 on Monday. The company has a market capitalization of $2.12 billion, a P/E ratio of 12.77 and a beta of 1.82. Sonic Automotive, Inc. has a 12-month low of $39.02 and a 12-month high of $64.68. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10. The firm has a 50-day moving average price of $52.53 and a two-hundred day moving average price of $52.12.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.13. Sonic Automotive had a net margin of 1.21% and a return on equity of 27.69%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts anticipate that Sonic Automotive, Inc. will post 5.62 earnings per share for the current year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, June 14th. Sonic Automotive’s dividend payout ratio is presently 24.59%.

Wall Street Analyst Weigh In

SAH has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America raised shares of Sonic Automotive from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $68.00 in a research report on Friday. TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, March 6th. Finally, StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.00.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.