Sonic Co. (NASDAQ:SONC) Director Federico F. Pena sold 4,575 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $25.99, for a total transaction of $118,904.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Federico F. Pena also recently made the following trade(s):
- On Monday, October 23rd, Federico F. Pena sold 1,161 shares of Sonic stock. The stock was sold at an average price of $25.20, for a total transaction of $29,257.20.
Sonic Co. (NASDAQ:SONC) opened at $26.49 on Monday. The company has a market cap of $1,018.75, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.18 and a beta of 1.74. The company has a debt-to-equity ratio of -2.87, a quick ratio of 1.81 and a current ratio of 1.81. Sonic Co. has a 52 week low of $22.11 and a 52 week high of $30.05.
Sonic (NASDAQ:SONC) last released its earnings results on Thursday, January 4th. The restaurant operator reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The firm had revenue of $105.40 million for the quarter, compared to analysts’ expectations of $106.86 million. Sonic had a net margin of 13.68% and a negative return on equity of 28.95%. Sonic’s quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. equities research analysts forecast that Sonic Co. will post 1.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, February 6th. This represents a $0.64 annualized dividend and a yield of 2.42%. Sonic’s payout ratio is 43.24%.
Sonic declared that its board has approved a stock buyback plan on Thursday, October 26th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 14.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several analysts recently weighed in on the stock. Oppenheimer downgraded shares of Sonic from an “outperform” rating to a “market perform” rating and set a $29.00 price objective on the stock. in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Sonic from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, January 10th. BidaskClub upgraded shares of Sonic from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Cowen reiterated a “neutral” rating on shares of Sonic in a research report on Tuesday, October 17th. Finally, UBS Group reiterated a “neutral” rating and issued a $28.00 price objective (up from $26.00) on shares of Sonic in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.64.
A number of institutional investors have recently added to or reduced their stakes in SONC. Riverhead Capital Management LLC increased its stake in Sonic by 77.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,797 shares of the restaurant operator’s stock valued at $127,000 after buying an additional 2,097 shares during the period. Flinton Capital Management LLC increased its stake in Sonic by 74.5% during the 2nd quarter. Flinton Capital Management LLC now owns 6,290 shares of the restaurant operator’s stock valued at $167,000 after buying an additional 2,686 shares during the period. Bayesian Capital Management LP acquired a new position in Sonic during the 2nd quarter valued at about $228,000. Wolverine Trading LLC increased its stake in Sonic by 382.4% during the 3rd quarter. Wolverine Trading LLC now owns 9,110 shares of the restaurant operator’s stock valued at $232,000 after buying an additional 12,336 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in Sonic during the 3rd quarter valued at about $239,000.
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Sonic Company Profile
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.
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