Hsbc Holdings PLC Boosts Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

Hsbc Holdings PLC lifted its position in Sonic Automotive, Inc. (NYSE:SAHFree Report) by 46.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,299 shares of the company’s stock after buying an additional 5,805 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Sonic Automotive worth $1,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in 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 period. Jacobs Levy Equity Management Inc. increased its holdings in Sonic Automotive by 1,841.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 301,526 shares of the company’s stock worth $14,401,000 after purchasing an additional 285,999 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in Sonic Automotive by 705.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 67,086 shares of the company’s stock worth $3,204,000 after purchasing an additional 58,761 shares during the period. FMR LLC increased its holdings in 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 period. Finally, BNP Paribas Financial Markets increased its holdings in Sonic Automotive by 125.4% during the 4th quarter. BNP Paribas Financial Markets now owns 43,175 shares of the company’s stock worth $2,427,000 after purchasing an additional 24,021 shares during the period. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Trading Down 1.4 %

NYSE:SAH opened at $56.54 on Monday. The stock’s 50 day moving average price is $55.36 and its 200 day moving average price is $53.96. The company has a market capitalization of $1.92 billion, a PE ratio of 11.59 and a beta of 1.71. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Sonic Automotive, Inc. has a 52-week low of $41.19 and a 52-week high of $64.68.

Sonic Automotive (NYSE:SAHGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.06. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts anticipate that Sonic Automotive, Inc. will post 5.86 EPS for the current year.

Sonic Automotive Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. Sonic Automotive’s dividend payout ratio (DPR) is currently 24.59%.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, President Jeff Dyke sold 15,000 shares of Sonic Automotive stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $56.76, for a total value of $851,400.00. Following the transaction, the president now directly owns 161,622 shares in the company, valued at approximately $9,173,664.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sonic Automotive news, President Jeff Dyke sold 15,000 shares of Sonic Automotive stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $56.76, for a total value of $851,400.00. Following the transaction, the president now directly owns 161,622 shares in the company, valued at approximately $9,173,664.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Bruton Smith sold 3,861 shares of Sonic Automotive stock in a transaction that occurred 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 in the company, valued at $35,817,007.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,355 shares of company stock worth $7,521,404. 40.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SAH shares. Morgan Stanley increased their price objective on Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Bank of America upgraded Sonic Automotive from an “underperform” rating to a “buy” rating and increased their price objective for the company from $55.00 to $68.00 in a report on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on Sonic Automotive from $48.00 to $53.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Sonic Automotive has an average rating of “Hold” and an average target price of $56.60.

Get Our Latest Stock Analysis on Sonic Automotive

Sonic Automotive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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