Jeff Dyke Sells 8,551 Shares of Sonic Automotive, Inc. (SAH) Stock

Sonic Automotive, Inc. (NYSE:SAH) EVP Jeff Dyke sold 8,551 shares of Sonic Automotive stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total value of $171,875.10. Following the transaction, the executive vice president now owns 1,262,056 shares of the company’s stock, valued at approximately $25,367,325.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.54 billion. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.96%. Sonic Automotive’s dividend payout ratio (DPR) is 13.07%.

TRADEMARK VIOLATION NOTICE: “Jeff Dyke Sells 8,551 Shares of Sonic Automotive, Inc. (SAH) Stock” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/11/03/jeff-dyke-sells-8551-shares-of-sonic-automotive-inc-sah-stock.html.

A number of equities analysts have issued reports on the company. BidaskClub downgraded Sonic Automotive from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a research note on Friday, September 1st. Finally, Bank of America Corporation downgraded Sonic Automotive from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.75.

A number of institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in Sonic Automotive by 1.5% during the first quarter. Arizona State Retirement System now owns 13,705 shares of the company’s stock valued at $275,000 after purchasing an additional 200 shares during the period. Texas Permanent School Fund lifted its position in Sonic Automotive by 1.2% during the second quarter. Texas Permanent School Fund now owns 19,253 shares of the company’s stock valued at $374,000 after purchasing an additional 223 shares during the period. Capstone Asset Management Co. lifted its position in Sonic Automotive by 1.4% during the second quarter. Capstone Asset Management Co. now owns 16,133 shares of the company’s stock valued at $314,000 after purchasing an additional 230 shares during the period. Public Employees Retirement System of Ohio lifted its position in Sonic Automotive by 4.8% during the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after purchasing an additional 410 shares during the period. Finally, Thrivent Financial For Lutherans lifted its position in Sonic Automotive by 5.1% during the first quarter. Thrivent Financial For Lutherans now owns 14,960 shares of the company’s stock valued at $300,000 after purchasing an additional 720 shares during the period. Institutional investors own 63.72% of the company’s stock.

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.

What are top analysts saying about Sonic Automotive Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sonic Automotive Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit