American Century Companies Inc. Decreases Stake in Sonic Automotive, Inc. (NYSE:SAH)

American Century Companies Inc. reduced its position in Sonic Automotive, Inc. (NYSE:SAH) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,314 shares of the company’s stock after selling 1,611 shares during the period. American Century Companies Inc. owned 0.06% of Sonic Automotive worth $1,107,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in Sonic Automotive during the first quarter valued at approximately $30,000. Innealta Capital LLC purchased a new stake in Sonic Automotive during the second quarter valued at approximately $41,000. AM Squared Ltd purchased a new stake in Sonic Automotive during the second quarter valued at approximately $82,000. TFO Wealth Partners LLC raised its position in Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after purchasing an additional 2,122 shares during the period. Finally, Arizona State Retirement System raised its position in Sonic Automotive by 10.8% during the second quarter. Arizona State Retirement System now owns 4,324 shares of the company’s stock valued at $236,000 after purchasing an additional 420 shares during the period. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sonic Automotive

In other Sonic Automotive news, CFO Heath Byrd sold 19,827 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the sale, the chief financial officer now owns 173,618 shares in the company, valued at approximately $10,417,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 40.95% of the company’s stock.

Sonic Automotive Trading Down 1.0 %

Shares of NYSE:SAH opened at $58.48 on Tuesday. Sonic Automotive, Inc. has a 12-month low of $41.19 and a 12-month high of $64.68. The business’s fifty day simple moving average is $58.51 and its 200-day simple moving average is $56.42. The company has a market capitalization of $1.98 billion, a PE ratio of 11.98 and a beta of 1.61. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the business posted $1.83 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Sonic Automotive, Inc. will post 5.79 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. Sonic Automotive’s payout ratio is 24.59%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SAH shares. Stephens assumed coverage on Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective on the stock. Bank of America reduced their price target on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Morgan Stanley upgraded Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Needham & Company LLC began coverage on Sonic Automotive in a report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Sonic Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.