Jacobs Levy Equity Management Inc. Decreases Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Jacobs Levy Equity Management Inc. reduced its position in Sonic Automotive, Inc. (NYSE:SAH) by 9.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 261,591 shares of the company’s stock after selling 26,502 shares during the period. Jacobs Levy Equity Management Inc. owned 0.77% of Sonic Automotive worth $15,298,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SAH. Innealta Capital LLC purchased a new stake in Sonic Automotive in the 2nd quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after purchasing an additional 599 shares during the last quarter. AM Squared Ltd bought a new stake in shares of Sonic Automotive during the second quarter valued at approximately $82,000. Point72 DIFC Ltd increased its stake in shares of Sonic Automotive by 6.9% during the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after acquiring an additional 187 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Sonic Automotive in the second quarter worth approximately $228,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of SAH stock opened at $68.28 on Thursday. The firm has a 50-day moving average of $60.46 and a 200-day moving average of $58.36. The company has a market cap of $2.33 billion, a P/E ratio of 12.15 and a beta of 1.65. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. Sonic Automotive, Inc. has a one year low of $47.82 and a one year high of $70.88.

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

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.30. Sonic Automotive’s payout ratio is 21.35%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Stephens began coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price for the company. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.40.

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.