Prudential Financial Inc. Decreases Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

Prudential Financial Inc. decreased its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,827 shares of the company’s stock after selling 200 shares during the period. Prudential Financial Inc.’s holdings in Sonic Automotive were worth $939,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Sonic Automotive by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock valued at $98,658,000 after buying an additional 20,058 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Sonic Automotive by 12.4% in the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company’s stock valued at $8,369,000 after purchasing an additional 14,600 shares in the last quarter. Denali Advisors LLC increased its position in Sonic Automotive by 111.2% in the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock worth $5,518,000 after purchasing an additional 45,857 shares during the last quarter. Principal Financial Group Inc. raised its stake in Sonic Automotive by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 71,051 shares of the company’s stock valued at $4,501,000 after purchasing an additional 2,212 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Sonic Automotive by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock valued at $3,570,000 after purchasing an additional 978 shares during the last quarter. 46.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Stephens raised their price objective on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC cut their target price on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.80.

Sonic Automotive Stock Up 1.7 %

Shares of NYSE:SAH opened at $57.11 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The business has a 50 day simple moving average of $66.61 and a two-hundred day simple moving average of $64.07. Sonic Automotive, Inc. has a 1 year low of $47.82 and a 1 year high of $76.78. The firm has a market capitalization of $1.93 billion, a PE ratio of 9.24 and a beta of 1.43.

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

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is presently 22.65%.

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.