Maryland State Retirement & Pension System Acquires New Holdings in Sonic Automotive, Inc. (NYSE:SAH)
Maryland State Retirement & Pension System acquired a new stake in Sonic Automotive, Inc. (NYSE:SAH – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,871 shares of the company’s stock, valued at approximately $339,000.
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A number of other large investors have also recently added to or reduced their stakes in SAH. Blueshift Asset Management LLC acquired a new stake in shares of Sonic Automotive during the 3rd quarter worth about $239,000. Allianz Asset Management GmbH boosted its stake in shares of Sonic Automotive by 60.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 20,385 shares of the company’s stock worth $883,000 after purchasing an additional 7,681 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Sonic Automotive during the 3rd quarter worth about $264,000. PDT Partners LLC boosted its stake in shares of Sonic Automotive by 13.2% during the 2nd quarter. PDT Partners LLC now owns 68,668 shares of the company’s stock worth $2,515,000 after purchasing an additional 8,017 shares during the last quarter. Finally, Delphia USA Inc. boosted its stake in shares of Sonic Automotive by 56.1% during the 2nd quarter. Delphia USA Inc. now owns 7,939 shares of the company’s stock worth $291,000 after purchasing an additional 2,854 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SAH. Morgan Stanley raised their price target on shares of Sonic Automotive from $33.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 28th. StockNews.com started coverage on shares of Sonic Automotive in a report on Thursday, March 16th. They set a “hold” rating on the stock. Benchmark increased their price objective on shares of Sonic Automotive from $62.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Finally, JPMorgan Chase & Co. lowered shares of Sonic Automotive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $60.00 to $55.00 in a report on Tuesday, February 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.67.
Sonic Automotive Trading Down 2.7 %
NYSE SAH opened at $52.36 on Wednesday. Sonic Automotive, Inc. has a one year low of $34.17 and a one year high of $62.26. The company’s 50 day moving average price is $55.42 and its 200 day moving average price is $50.48. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.54 and a current ratio of 1.20. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 31.17 and a beta of 1.82.
Sonic Automotive (NYSE:SAH – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.26 by $0.35. Sonic Automotive had a net margin of 0.62% and a return on equity of 35.44%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm posted $2.66 earnings per share. Sonic Automotive’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Sonic Automotive, Inc. will post 7.36 EPS for the current year.
Sonic Automotive Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.14%. Sonic Automotive’s dividend payout ratio is currently 66.67%.
Sonic Automotive Company Profile
Sonic Automotive, Inc operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers.
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