Gotham Asset Management LLC Takes Position in Sonic Automotive, Inc. (NYSE:SAH)

Gotham Asset Management LLC acquired a new position in shares of Sonic Automotive, Inc. (NYSE:SAH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,546 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds have also modified their holdings of SAH. Pacific Global Investment Management Co. grew its stake in Sonic Automotive by 4.1% in the 4th quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock worth $288,000 after acquiring an additional 179 shares during the period. New York State Teachers Retirement System grew its position in shares of Sonic Automotive by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock valued at $1,643,000 after buying an additional 212 shares during the last quarter. American Century Companies Inc. grew its position in shares of Sonic Automotive by 1.9% during the 4th quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock valued at $1,305,000 after buying an additional 390 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Sonic Automotive by 515.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Finally, Swiss National Bank increased its stake in shares of Sonic Automotive by 2.0% in the fourth quarter. Swiss National Bank now owns 30,500 shares of the company’s stock valued at $1,932,000 after purchasing an additional 600 shares during the period. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Stock Down 0.2%

Sonic Automotive stock opened at $68.88 on Wednesday. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $76.78. The company’s 50-day moving average price is $61.23 and its two-hundred day moving average price is $65.27. The stock has a market cap of $2.34 billion, a P/E ratio of 11.15 and a beta of 1.04. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. Sonic Automotive’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive’s dividend payout ratio is currently 19.94%.

Analyst Ratings Changes

A number of analysts recently weighed in on SAH shares. Stephens raised their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Needham & Company LLC decreased their target price on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Citigroup assumed coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They set a “neutral” rating and a $64.00 price objective for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.83.

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.