Sonic Automotive, Inc. (NYSE:SAH) CEO Sells $237,181.23 in Stock

Sonic Automotive, Inc. (NYSE:SAH) CEO David Bruton Smith sold 3,861 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $61.43, for a total value of $237,181.23. Following the completion of the transaction, the chief executive officer now owns 583,054 shares of the company’s stock, valued at approximately $35,817,007.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $57.14 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive, Inc. has a fifty-two week low of $39.02 and a fifty-two week high of $64.68. The stock has a market cap of $1.94 billion, a PE ratio of 11.71 and a beta of 1.75. The stock has a fifty day moving average of $52.93 and a 200-day moving average of $52.39.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, April 25th. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Sonic Automotive, Inc. will post 5.71 earnings per share for the current year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, June 14th. Sonic Automotive’s dividend payout ratio is presently 24.59%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Illinois Municipal Retirement Fund raised its position in shares of Sonic Automotive by 3.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 9,596 shares of the company’s stock worth $539,000 after buying an additional 315 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sonic Automotive by 16.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,132 shares of the company’s stock worth $176,000 after acquiring an additional 447 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sonic Automotive in the 1st quarter valued at about $30,000. Aigen Investment Management LP boosted its position in shares of Sonic Automotive by 6.5% during the 4th quarter. Aigen Investment Management LP now owns 9,946 shares of the company’s stock valued at $559,000 after acquiring an additional 611 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Sonic Automotive by 12.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,128 shares of the company’s stock worth $293,000 after purchasing an additional 678 shares in the last quarter. 46.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

SAH has been the subject of several research reports. Morgan Stanley increased their price target on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Bank of America upgraded shares of Sonic Automotive from an “underperform” rating to a “buy” rating and raised their price target for the stock from $55.00 to $68.00 in a research note on Friday, April 26th. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. increased their price target on Sonic Automotive from $48.00 to $53.00 and gave the stock an “underweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.60.

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.