Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) CEO David Bruton Smith sold 67,703 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $58.43, for a total transaction of $3,955,886.29. Following the sale, the chief executive officer now owns 583,054 shares in the company, valued at approximately $34,067,845.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
David Bruton Smith also recently made the following trade(s):
- On Tuesday, May 7th, David Bruton Smith sold 21 shares of Sonic Automotive stock. The stock was sold at an average price of $58.49, for a total value of $1,228.29.
- On Monday, April 29th, David Bruton Smith sold 3,861 shares of Sonic Automotive stock. The stock was sold at an average price of $61.43, for a total transaction of $237,181.23.
Sonic Automotive Stock Up 0.7 %
Shares of NYSE SAH opened at $58.47 on Friday. The company has a market cap of $1.98 billion, a P/E ratio of 11.98 and a beta of 1.75. The firm has a 50-day simple moving average of $53.65 and a two-hundred day simple moving average of $52.85. Sonic Automotive, Inc. has a 1 year low of $39.02 and a 1 year high of $64.68. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.35.
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Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.06. The firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.45 billion. Sonic Automotive had a net margin of 1.21% and a return on equity of 27.46%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. Research analysts anticipate that Sonic Automotive, Inc. will post 5.77 earnings per share for the current year.
Sonic Automotive Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, June 14th. Sonic Automotive's dividend payout ratio (DPR) is 24.59%.
Hedge Funds Weigh In On Sonic Automotive
Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Sonic Automotive in the 3rd quarter valued at about $135,000. Olympiad Research LP acquired a new position in shares of Sonic Automotive during the third quarter worth $214,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Sonic Automotive during the 3rd quarter valued at $443,000. New York State Common Retirement Fund boosted its position in shares of Sonic Automotive by 140.4% in the 3rd quarter. New York State Common Retirement Fund now owns 17,892 shares of the company's stock worth $855,000 after purchasing an additional 10,450 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Sonic Automotive by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 381,211 shares of the company's stock worth $18,207,000 after buying an additional 16,117 shares during the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their target price on Sonic Automotive from $48.00 to $53.00 and gave the stock an "underweight" rating in a report on Thursday, May 2nd. Bank of America raised Sonic Automotive from an "underperform" rating to a "buy" rating and boosted their price target for the company from $55.00 to $68.00 in a report on Friday, April 26th. StockNews.com downgraded Sonic Automotive from a "buy" rating to a "hold" rating in a research note on Thursday, January 11th. Finally, TheStreet raised shares of Sonic Automotive from a "c+" rating to a "b" rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.60.
Read Our Latest Stock Report on Sonic Automotive
About Sonic Automotive
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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.
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