Sonic Automotive, Inc. $SAH Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 19.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,680 shares of the company’s stock after acquiring an additional 13,869 shares during the quarter. Principal Financial Group Inc.’s holdings in Sonic Automotive were worth $6,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Sonic Automotive by 124.9% during the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock worth $20,239,000 after purchasing an additional 197,336 shares in the last quarter. Squarepoint Ops LLC increased its stake in Sonic Automotive by 79.2% during the 2nd quarter. Squarepoint Ops LLC now owns 126,740 shares of the company’s stock worth $10,130,000 after buying an additional 56,027 shares during the period. Ameriprise Financial Inc. lifted its holdings in Sonic Automotive by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 120,949 shares of the company’s stock worth $9,668,000 after buying an additional 8,246 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in Sonic Automotive by 30.3% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 94,468 shares of the company’s stock valued at $7,551,000 after buying an additional 21,960 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Sonic Automotive in the 2nd quarter valued at approximately $6,564,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Trading Down 1.0%

NYSE:SAH opened at $60.06 on Friday. Sonic Automotive, Inc. has a 1 year low of $52.00 and a 1 year high of $89.62. The stock has a market cap of $2.05 billion, a P/E ratio of 16.23 and a beta of 0.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.27 and a current ratio of 1.02. The stock has a 50-day simple moving average of $62.93 and a 200-day simple moving average of $69.16.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley set a $68.00 price objective on Sonic Automotive in a research note on Monday, December 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Sonic Automotive in a research note on Monday, December 29th. Citigroup raised Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, November 6th. Zacks Research raised Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Wall Street Zen lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.63.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.