Hotchkis & Wiley Capital Management LLC Has $48.23 Million Stake in Sonic Automotive, Inc. (NYSE:SAH)

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 824,686 shares of the company’s stock after selling 51,220 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Sonic Automotive were worth $48,228,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after acquiring an additional 599 shares in the last quarter. Walleye Capital LLC boosted its stake in Sonic Automotive by 245.6% during the 3rd quarter. Walleye Capital LLC now owns 28,210 shares of the company’s stock valued at $1,650,000 after purchasing an additional 20,047 shares during the period. Quantbot Technologies LP lifted its stake in Sonic Automotive by 667.6% during the third quarter. Quantbot Technologies LP now owns 12,113 shares of the company’s stock worth $708,000 after purchasing an additional 10,535 shares during the period. FMR LLC raised its position in shares of Sonic Automotive by 15.0% in the third quarter. FMR LLC now owns 52,259 shares of the company’s stock worth $3,056,000 after buying an additional 6,822 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in Sonic Automotive by 418.9% in the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after purchasing an additional 17,512 shares during the period. Institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $69.36 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive, Inc. has a 52 week low of $47.82 and a 52 week high of $70.88. The company has a 50 day moving average price of $59.99 and a 200 day moving average price of $58.23. The firm has a market capitalization of $2.37 billion, a P/E ratio of 12.34 and a beta of 1.65.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.26 earnings per share 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 analysts’ expectations of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. Sell-side analysts expect that Sonic Automotive, Inc. will post 5.6 EPS for the current year.

Sonic Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.02%. Sonic Automotive’s dividend payout ratio (DPR) is 21.35%.

Analysts Set New Price Targets

A number of research firms have commented on SAH. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Bank of America cut their target price 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. Morgan Stanley upgraded shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $40.00 to $58.00 in a report on Wednesday, September 25th. Stephens started coverage on Sonic Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sonic Automotive currently has an average rating of “Moderate Buy” and an average target price of $67.40.

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.