Sonic Automotive, Inc. (NYSE:SAH) President Jeff Dyke Sells 16,734 Shares

Sonic Automotive, Inc. (NYSE:SAH) President Jeff Dyke sold 16,734 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,004,040.00. Following the sale, the president now directly owns 817,753 shares in the company, valued at approximately $49,065,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Jeff Dyke also recently made the following trade(s):

• On Tuesday, May 28th, Jeff Dyke sold 15,000 shares of Sonic Automotive stock. The stock was sold at an average price of $56.76, for a total transaction of $851,400.00.

Sonic Automotive Stock Down 1.0 %

SAH stock opened at $56.19 on Monday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 11.51 and a beta of 1.71. Sonic Automotive, Inc. has a twelve month low of $41.19 and a twelve month high of $64.68. The business has a 50 day moving average price of $55.65 and a two-hundred day moving average price of $54.13. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, April 25th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.06. The business had revenue of $3.40 billion during 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 firm’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $1.33 earnings per share. Analysts anticipate that Sonic Automotive, Inc. will post 5.86 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.20 annualized dividend and a yield of 2.14%. Sonic Automotive’s dividend payout ratio (DPR) is currently 24.59%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upgraded Sonic Automotive from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $53.00 to $58.00 in a report on Monday, June 10th. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, March 6th. Finally, Bank of America raised Sonic Automotive from an “underperform” rating to a “buy” rating and lifted their target price for the company from $55.00 to $68.00 in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.60.

Hedge Funds Weigh In On Sonic Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Sonic Automotive in the fourth quarter valued at approximately $795,000. Westwood Holdings Group Inc. acquired a new stake in Sonic Automotive during the 4th quarter valued at $31,473,000. BNP Paribas Financial Markets boosted its position in Sonic Automotive by 125.4% during the fourth quarter. BNP Paribas Financial Markets now owns 43,175 shares of the company’s stock worth $2,427,000 after purchasing an additional 24,021 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Sonic Automotive by 2,718.9% in the third quarter. Public Employees Retirement System of Ohio now owns 29,880 shares of the company’s stock valued at $1,427,000 after purchasing an additional 28,820 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Sonic Automotive in the fourth quarter valued at about $218,000. Institutional investors own 46.92% of the company’s stock.

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.