Tower Research Capital LLC TRC Has $382,000 Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Tower Research Capital LLC TRC lessened its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 40.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,034 shares of the company’s stock after selling 4,125 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Sonic Automotive were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SAH. Pacific Global Investment Management Co. boosted its stake in Sonic Automotive by 4.1% during the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock worth $288,000 after buying an additional 179 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Sonic Automotive by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock worth $1,643,000 after buying an additional 212 shares in the last quarter. American Century Companies Inc. boosted its stake in Sonic Automotive by 1.9% during the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock worth $1,305,000 after buying an additional 390 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after buying an additional 402 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Sonic Automotive by 2.0% during the fourth quarter. Swiss National Bank now owns 30,500 shares of the company’s stock worth $1,932,000 after buying an additional 600 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Monday, April 21st. Citigroup assumed coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $64.00 price target on the stock. Needham & Company LLC decreased their price target on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Stephens boosted their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Sonic Automotive Stock Down 0.9 %

Shares of NYSE SAH opened at $60.80 on Thursday. The firm’s 50-day simple moving average is $61.36 and its 200 day simple moving average is $64.30. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 9.84 and a beta of 1.43. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a 12-month low of $51.27 and a 12-month high of $76.78.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. On average, research analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a yield of 2.30%. Sonic Automotive’s dividend payout ratio (DPR) is 19.94%.

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.