Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. decreased its position in Sonic Automotive, Inc. (NYSE:SAH) by 71.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,665 shares of the company’s stock after selling 44,670 shares during the period. Phocas Financial Corp. owned approximately 0.05% of Sonic Automotive worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares during the period. R Squared Ltd acquired a new stake in shares of Sonic Automotive in the fourth quarter valued at approximately $72,000. SG Americas Securities LLC purchased a new position in Sonic Automotive during the fourth quarter worth approximately $244,000. MQS Management LLC purchased a new position in shares of Sonic Automotive during the 3rd quarter worth $394,000. Finally, Franklin Resources Inc. boosted its position in shares of Sonic Automotive by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock valued at $530,000 after acquiring an additional 609 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Up 1.2 %

NYSE:SAH opened at $69.55 on Wednesday. Sonic Automotive, Inc. has a 52 week low of $47.82 and a 52 week high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The stock’s fifty day moving average is $68.66 and its two-hundred day moving average is $63.46. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 11.25 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. Research analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s payout ratio is currently 22.65%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SAH shares. Needham & Company LLC raised their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Stephens raised their target price on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $79.20.

Sonic Automotive 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.