Sonic Automotive, Inc. $SAH Holdings Decreased by Geode Capital Management LLC

Geode Capital Management LLC cut its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 342,185 shares of the company’s stock after selling 924 shares during the quarter. Geode Capital Management LLC owned 1.00% of Sonic Automotive worth $27,355,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Sonic Automotive during the first quarter worth $84,000. R Squared Ltd bought a new stake in shares of Sonic Automotive during the 2nd quarter valued at about $214,000. Harrell Investment Partners LLC acquired a new stake in Sonic Automotive during the second quarter worth about $240,000. Contravisory Investment Management Inc. bought a new position in Sonic Automotive in the second quarter worth about $270,000. Finally, Cetera Investment Advisers bought a new position in Sonic Automotive in the first quarter worth about $218,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Price Performance

Shares of SAH opened at $63.03 on Friday. Sonic Automotive, Inc. has a one year low of $52.00 and a one year high of $89.62. The stock’s fifty day moving average is $68.45 and its 200-day moving average is $74.47. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.27 and a current ratio of 1.02. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.04 and a beta of 0.91.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, October 23rd. The company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.41). The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.59 billion. Sonic Automotive had a net margin of 0.86% and a return on equity of 21.65%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. Equities analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.52 annualized dividend and a yield of 2.4%. Sonic Automotive’s payout ratio is presently 41.08%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SAH shares. Citigroup upgraded Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, November 6th. Wall Street Zen downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Zacks Research cut Sonic Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sonic Automotive in a report on Friday, October 31st. Finally, Needham & Company LLC lowered their price target on shares of Sonic Automotive from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $80.75.

Sonic Automotive Company Profile

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.