Westwood Holdings Group Inc. Sells 148,112 Shares of Sonic Automotive, Inc. $SAH

Westwood Holdings Group Inc. trimmed its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 23.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 493,125 shares of the company’s stock after selling 148,112 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Sonic Automotive were worth $39,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sonic Automotive by 992.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after buying an additional 397 shares during the period. Quarry LP acquired a new position in Sonic Automotive during the first quarter worth $84,000. Raymond James Financial Inc. bought a new position in shares of Sonic Automotive during the second quarter valued at $168,000. Entropy Technologies LP acquired a new stake in shares of Sonic Automotive in the 2nd quarter valued at $208,000. Finally, Creative Planning bought a new stake in shares of Sonic Automotive in the 2nd quarter worth about $213,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Down 3.0%

Shares of SAH opened at $65.39 on Monday. The business’s fifty day moving average price is $66.04 and its two-hundred day moving average price is $74.29. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 17.67 and a beta of 0.90. Sonic Automotive, Inc. has a 52 week low of $52.00 and a 52 week high of $89.62. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.27 and a current ratio of 1.02.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, October 23rd. The company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.41). The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.59 billion. Sonic Automotive had a return on equity of 21.65% and a net margin of 0.86%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. On average, analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, December 15th. Sonic Automotive’s dividend payout ratio (DPR) is 41.08%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SAH shares. Benchmark lifted their price target on shares of Sonic Automotive from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Citigroup upgraded shares of Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, November 6th. Morgan Stanley set a $68.00 price target on Sonic Automotive in a research report on Monday, December 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sonic Automotive in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. decreased their target price on Sonic Automotive from $76.00 to $70.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.25.

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.