KLP Kapitalforvaltning AS Purchases New Holdings in Sonic Automotive, Inc. (NYSE:SAH)

KLP Kapitalforvaltning AS purchased a new position in Sonic Automotive, Inc. (NYSE:SAH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,900 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SAH. Denali Advisors LLC raised its position in shares of Sonic Automotive by 111.2% in the 4th quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock worth $5,518,000 after acquiring an additional 45,857 shares in the last quarter. JPMorgan Chase & Co. grew its position in Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock worth $3,113,000 after purchasing an additional 21,650 shares during the period. Barclays PLC lifted its holdings in Sonic Automotive by 346.1% in the third quarter. Barclays PLC now owns 24,413 shares of the company’s stock valued at $1,427,000 after acquiring an additional 18,940 shares during the period. New York State Common Retirement Fund increased its holdings in Sonic Automotive by 54.4% in the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock valued at $2,851,000 after buying an additional 15,849 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Sonic Automotive by 12.4% during the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company’s stock worth $8,369,000 after purchasing an additional 14,600 shares in the last quarter. Institutional investors own 46.92% of the company’s stock.

Analyst Upgrades and Downgrades

SAH has been the subject of several research reports. Stephens boosted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Needham & Company LLC decreased their price target on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.80.

Sonic Automotive Price Performance

SAH stock opened at $56.64 on Wednesday. The business has a 50 day simple moving average of $65.95 and a 200-day simple moving average of $64.01. The company has a market capitalization of $1.91 billion, a P/E ratio of 9.17 and a beta of 1.43. Sonic Automotive, Inc. has a twelve month low of $47.82 and a twelve month high of $76.78. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (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%. As a group, equities analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. Sonic Automotive’s dividend payout ratio (DPR) is presently 22.65%.

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.