UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,813 Shares of Sonic Automotive, Inc. (NYSE:SAH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 10.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,501 shares of the company’s stock after selling 3,813 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sonic Automotive were worth $1,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP raised its stake in shares of Sonic Automotive by 667.6% in the third quarter. Quantbot Technologies LP now owns 12,113 shares of the company’s stock worth $708,000 after acquiring an additional 10,535 shares during the last quarter. FMR LLC increased its holdings in shares of Sonic Automotive by 15.0% in the third quarter. FMR LLC now owns 52,259 shares of the company’s stock valued at $3,056,000 after purchasing an additional 6,822 shares in the last quarter. Intech Investment Management LLC raised its position in Sonic Automotive by 418.9% in the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after purchasing an additional 17,512 shares during the last quarter. Phocas Financial Corp. acquired a new position in Sonic Automotive during the 3rd quarter worth $3,645,000. Finally, MQS Management LLC bought a new position in Sonic Automotive in the 3rd quarter valued at $394,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SAH shares. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Needham & Company LLC boosted their price objective on Sonic Automotive from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America reduced their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Stephens began coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

Sonic Automotive Price Performance

Shares of SAH opened at $66.52 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The stock has a market cap of $2.27 billion, a P/E ratio of 11.84 and a beta of 1.65. The stock’s 50-day moving average price is $62.04 and its two-hundred day moving average price is $58.98. Sonic Automotive, Inc. has a 1 year low of $47.82 and a 1 year high of $70.88.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $2.02 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Sonic Automotive, Inc. will post 5.6 earnings per share for the current year.

Sonic Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.35 dividend. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. Sonic Automotive’s payout ratio is 21.35%.

About Sonic Automotive

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.