Goldman Sachs Group Inc. Cuts Position in Sonic Automotive, Inc. (SAH)

Goldman Sachs Group Inc. reduced its position in Sonic Automotive, Inc. (NYSE:SAH) by 71.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,281 shares of the company’s stock after selling 35,104 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Sonic Automotive were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio increased its holdings in Sonic Automotive by 11.0% in the 2nd quarter. Strs Ohio now owns 39,300 shares of the company’s stock valued at $764,000 after purchasing an additional 3,900 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Sonic Automotive by 11.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 397,632 shares of the company’s stock valued at $7,734,000 after purchasing an additional 41,219 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Sonic Automotive by 53.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 48,453 shares of the company’s stock valued at $943,000 after purchasing an additional 16,969 shares in the last quarter. Prudential Financial Inc. increased its holdings in Sonic Automotive by 49.4% in the 2nd quarter. Prudential Financial Inc. now owns 422,930 shares of the company’s stock valued at $8,226,000 after purchasing an additional 139,778 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Sonic Automotive by 69.6% in the 2nd quarter. SG Americas Securities LLC now owns 64,305 shares of the company’s stock valued at $1,251,000 after purchasing an additional 26,379 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Jeff Dyke sold 8,551 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $20.10, for a total transaction of $171,875.10. Following the completion of the sale, the executive vice president now directly owns 1,262,056 shares in the company, valued at $25,367,325.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath Byrd sold 11,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $20.43, for a total value of $224,730.00. Following the sale, the chief financial officer now owns 143,306 shares of the company’s stock, valued at $2,927,741.58. The disclosure for this sale can be found here. 30.29% of the stock is owned by company insiders.

SAH has been the subject of several recent research reports. Bank of America Corporation downgraded Sonic Automotive from a “neutral” rating to an “underperform” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub downgraded Sonic Automotive from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a report on Friday, September 1st. Finally, ValuEngine downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.67.

Shares of Sonic Automotive, Inc. (NYSE SAH) opened at $19.95 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. The firm has a market capitalization of $853.10, a PE ratio of 11.69, a PEG ratio of 3.62 and a beta of 1.54. Sonic Automotive, Inc. has a 52 week low of $15.95 and a 52 week high of $27.45.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.54 billion. Sonic Automotive had a return on equity of 10.47% and a net margin of 0.70%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. sell-side analysts predict that Sonic Automotive, Inc. will post 1.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.00%. Sonic Automotive’s dividend payout ratio is presently 13.07%.

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Sonic Automotive Company Profile

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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