Charles Schwab Investment Management Inc. Sells 2,471 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Charles Schwab Investment Management Inc. decreased its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380,667 shares of the company’s stock after selling 2,471 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Sonic Automotive were worth $24,115,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after buying an additional 402 shares during the last quarter. R Squared Ltd purchased a new position in Sonic Automotive during the fourth quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. raised its stake in Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after buying an additional 599 shares during the last quarter. SG Americas Securities LLC purchased a new position in Sonic Automotive during the fourth quarter valued at $244,000. Finally, Pacific Global Investment Management Co. raised its stake in Sonic Automotive by 4.1% during the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock valued at $288,000 after buying an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Down 0.2 %

Sonic Automotive stock opened at $59.77 on Wednesday. The stock has a market cap of $2.02 billion, a PE ratio of 9.67 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive, Inc. has a one year low of $47.82 and a one year high of $76.78. The stock has a fifty day moving average of $69.06 and a 200 day moving average of $63.89.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 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, sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is presently 22.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Needham & Company LLC boosted their price target on Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Stephens boosted their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $79.20.

Sonic Automotive 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.