Texas Permanent School Fund Has $523,000 Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Texas Permanent School Fund trimmed its holdings in shares of Sonic Automotive, Inc. (NYSE:SAHGet Rating) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,270 shares of the company’s stock after selling 441 shares during the period. Texas Permanent School Fund’s holdings in Sonic Automotive were worth $523,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in shares of Sonic Automotive during the 1st quarter worth about $26,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Sonic Automotive during the 2nd quarter worth about $96,000. Valley National Advisers Inc. boosted its stake in shares of Sonic Automotive by 13.7% during the 1st quarter. Valley National Advisers Inc. now owns 4,595 shares of the company’s stock worth $196,000 after buying an additional 555 shares during the last quarter. Delphia USA Inc. boosted its stake in shares of Sonic Automotive by 9.0% during the 1st quarter. Delphia USA Inc. now owns 5,085 shares of the company’s stock worth $216,000 after buying an additional 422 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Sonic Automotive by 18.8% in the 1st quarter. Captrust Financial Advisors now owns 5,439 shares of the company’s stock valued at $233,000 after purchasing an additional 860 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sonic Automotive

In other news, CEO David Bruton Smith sold 54,670 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $55.60, for a total transaction of $3,039,652.00. Following the transaction, the chief executive officer now directly owns 467,856 shares of the company’s stock, valued at $26,012,793.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 36.07% of the company’s stock.

Wall Street Analyst Weigh In

SAH has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Sonic Automotive from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, September 1st. Bank of America downgraded shares of Sonic Automotive from a “buy” rating to an “underperform” rating in a research note on Friday, September 9th. StockNews.com initiated coverage on shares of Sonic Automotive in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of Sonic Automotive from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a research note on Thursday, October 6th. Finally, Benchmark lowered their price target on shares of Sonic Automotive from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, October 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.33.

Sonic Automotive Stock Down 2.4 %

Sonic Automotive stock opened at $50.35 on Tuesday. The stock has a market cap of $1.98 billion, a P/E ratio of 5.50 and a beta of 1.90. The company has a quick ratio of 0.33, a current ratio of 1.02 and a debt-to-equity ratio of 1.51. Sonic Automotive, Inc. has a twelve month low of $34.17 and a twelve month high of $59.19. The company’s 50-day moving average price is $46.16 and its two-hundred day moving average price is $44.79.

Sonic Automotive (NYSE:SAHGet Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.24). Sonic Automotive had a net margin of 2.71% and a return on equity of 35.42%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the company earned $1.96 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts expect that Sonic Automotive, Inc. will post 9.43 EPS for the current year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 2.22%. Sonic Automotive’s dividend payout ratio (DPR) is currently 10.93%.

Sonic Automotive Company Profile

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Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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