Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC cut its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 75,418 shares of the company’s stock after selling 1,416 shares during the period. Brandywine Global Investment Management LLC’s holdings in Sonic Automotive were worth $4,778,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Denali Advisors LLC raised its stake in shares of Sonic Automotive by 111.2% in the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock valued at $5,518,000 after acquiring an additional 45,857 shares in the last quarter. JPMorgan Chase & Co. raised its position in Sonic Automotive by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock valued at $5,129,000 after purchasing an additional 27,726 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Sonic Automotive in the 4th quarter valued at about $1,311,000. Vanguard Group Inc. grew its position in shares of Sonic Automotive by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock worth $98,658,000 after buying an additional 20,058 shares in the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Sonic Automotive by 245.6% during the third quarter. Walleye Capital LLC now owns 28,210 shares of the company’s stock worth $1,650,000 after buying an additional 20,047 shares during the period. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SAH shares. JPMorgan Chase & Co. decreased their price target 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. StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Needham & Company LLC cut their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Finally, Stephens upped their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.80.

Sonic Automotive Stock Performance

NYSE SAH opened at $57.87 on Wednesday. The company has a fifty day moving average of $67.65 and a two-hundred day moving average of $64.06. The company has a market capitalization of $1.95 billion, a PE ratio of 9.36 and a beta of 1.70. Sonic Automotive, Inc. has a 1 year low of $47.82 and a 1 year high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (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, analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s payout ratio is currently 22.65%.

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.