Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Sonic Automotive, Inc. (NYSE:SAH) by 6.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,279 shares of the company’s stock after selling 639 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sonic Automotive were worth $588,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SAH. Barclays PLC increased its stake in shares of Sonic Automotive by 346.1% during the third quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after purchasing an additional 18,940 shares in the last quarter. New York State Common Retirement Fund increased its stake in Sonic Automotive by 54.4% during the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock worth $2,851,000 after buying an additional 15,849 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock worth $3,113,000 after buying an additional 21,650 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Sonic Automotive during the fourth quarter valued at approximately $244,000. Finally, Franklin Resources Inc. lifted its position in shares of Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock valued at $530,000 after acquiring an additional 609 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SAH shares. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Stephens raised their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC dropped their price objective on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sonic Automotive has an average rating of “Moderate Buy” and a consensus price target of $74.80.

Sonic Automotive Trading Up 1.6 %

Shares of SAH stock opened at $57.87 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a twelve month low of $47.82 and a twelve month high of $76.78. The company’s 50-day moving average price is $67.65 and its 200-day moving average price is $64.06. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 9.36 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. As a group, equities analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.42%. Sonic Automotive’s dividend payout ratio (DPR) is 22.65%.

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.