Sonic Automotive, Inc. (NYSE:SAH) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,563 shares of the company’s stock after buying an additional 5,746 shares during the quarter. BNP Paribas Financial Markets’ holdings in Sonic Automotive were worth $5,294,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SAH. Smartleaf Asset Management LLC lifted its holdings in shares of Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Sonic Automotive in the 4th quarter valued at approximately $51,000. R Squared Ltd purchased a new stake in Sonic Automotive in the fourth quarter valued at approximately $72,000. Aster Capital Management DIFC Ltd lifted its stake in Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock worth $98,000 after purchasing an additional 1,444 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Sonic Automotive during the 4th quarter valued at about $185,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Up 1.9%

Shares of Sonic Automotive stock opened at $69.50 on Wednesday. Sonic Automotive, Inc. has a 12-month low of $51.27 and a 12-month high of $76.78. The stock has a market cap of $2.36 billion, a PE ratio of 11.25 and a beta of 1.04. The company has a 50-day moving average of $60.78 and a two-hundred day moving average of $64.90. 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 posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive’s payout ratio is 19.94%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SAH shares. StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Stephens boosted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Citigroup assumed coverage on Sonic Automotive in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 target price for the company. JPMorgan Chase & Co. lowered their price objective 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. Finally, Needham & Company LLC lowered their target price on Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

About Sonic Automotive

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.