Wolverine Asset Management LLC Sells 3,600 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Wolverine Asset Management LLC decreased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,775 shares of the company’s stock after selling 3,600 shares during the quarter. Wolverine Asset Management LLC’s holdings in Sonic Automotive were worth $1,506,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Sonic Automotive by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 71,051 shares of the company’s stock valued at $4,501,000 after purchasing an additional 2,212 shares during the period. Phocas Financial Corp. acquired a new position in shares of Sonic Automotive in the 3rd quarter worth approximately $3,645,000. Harbor Capital Advisors Inc. grew its position in Sonic Automotive by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock worth $3,570,000 after acquiring an additional 978 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after purchasing an additional 21,650 shares in the last quarter. Finally, FMR LLC raised its position in Sonic Automotive by 15.0% in the 3rd quarter. FMR LLC now owns 52,259 shares of the company’s stock valued at $3,056,000 after purchasing an additional 6,822 shares during the last quarter. Institutional investors own 46.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday. Needham & Company LLC boosted their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Stephens boosted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $79.20.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $68.65 on Friday. The firm has a fifty day moving average of $68.54 and a two-hundred day moving average of $63.26. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.11 and a beta of 1.68. Sonic Automotive, Inc. has a 52 week low of $47.82 and a 52 week high of $76.78.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 20.52% and a net margin of 1.52%. As a group, equities research analysts predict that Sonic Automotive, Inc. will post 6.16 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s dividend payout ratio is currently 22.65%.

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.