Harbor Capital Advisors Inc. Has $3.57 Million Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Harbor Capital Advisors Inc. raised its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 56,361 shares of the company’s stock after acquiring an additional 978 shares during the period. Harbor Capital Advisors Inc.’s holdings in Sonic Automotive were worth $3,570,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares in the last quarter. Point72 DIFC Ltd lifted its stake in Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after buying an additional 187 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Sonic Automotive in the second quarter valued at approximately $228,000. Arizona State Retirement System increased its position in shares of Sonic Automotive by 10.8% during the second quarter. Arizona State Retirement System now owns 4,324 shares of the company’s stock worth $236,000 after acquiring an additional 420 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Sonic Automotive by 3.4% during the second quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock worth $353,000 after acquiring an additional 211 shares during the period. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $63.36 on Friday. 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 50 day moving average price of $64.99 and a 200 day moving average price of $59.88. The stock has a market capitalization of $2.17 billion, a PE ratio of 11.27 and a beta of 1.67. Sonic Automotive, Inc. has a 52 week low of $47.82 and a 52 week high of $70.88.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). The company had revenue of $3.49 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $2.02 EPS. Analysts predict that Sonic Automotive, Inc. will post 5.6 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.21%. Sonic Automotive’s payout ratio is currently 24.91%.

Analysts Set New Price Targets

SAH has been the subject of a number of research analyst reports. Bank of America reduced their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley upgraded Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. Needham & Company LLC boosted their target price on Sonic Automotive from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sonic Automotive has an average rating of “Moderate Buy” and an average price target of $67.40.

About Sonic Automotive

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.