Sonic Co. (NASDAQ:SONC) Director Federico F. Pena sold 9,686 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $24.61, for a total value of $238,372.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sonic Co. (NASDAQ SONC) opened at $24.56 on Thursday. Sonic Co. has a 1 year low of $22.11 and a 1 year high of $30.05. The firm has a market cap of $926.07, a PE ratio of 18.10, a P/E/G ratio of 1.07 and a beta of 1.59. The company has a debt-to-equity ratio of -2.87, a current ratio of 1.81 and a quick ratio of 1.81.

Sonic (NASDAQ:SONC) last announced its quarterly earnings results on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Sonic had a net margin of 13.68% and a negative return on equity of 28.95%. The business had revenue of $105.40 million for the quarter, compared to analysts’ expectations of $106.86 million. During the same quarter last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. equities analysts expect that Sonic Co. will post 1.53 earnings per share for the current year.

Sonic declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that allows the company to repurchase $160.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to buy up to 14.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Wednesday, February 7th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.64 annualized dividend and a yield of 2.61%. Sonic’s payout ratio is 43.24%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its position in Sonic by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 34,135 shares of the restaurant operator’s stock valued at $938,000 after acquiring an additional 2,072 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Sonic by 2.0% during the 2nd quarter. California Public Employees Retirement System now owns 111,900 shares of the restaurant operator’s stock worth $2,964,000 after buying an additional 2,200 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of Sonic by 74.5% during the 2nd quarter. Flinton Capital Management LLC now owns 6,290 shares of the restaurant operator’s stock worth $167,000 after buying an additional 2,686 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Sonic by 3.6% during the 3rd quarter. TD Asset Management Inc. now owns 92,761 shares of the restaurant operator’s stock worth $2,361,000 after buying an additional 3,200 shares in the last quarter. Finally, FDx Advisors Inc. lifted its position in shares of Sonic by 30.8% during the 3rd quarter. FDx Advisors Inc. now owns 17,112 shares of the restaurant operator’s stock worth $436,000 after buying an additional 4,029 shares in the last quarter.

Several brokerages have recently commented on SONC. Telsey Advisory Group restated a “market perform” rating and issued a $31.00 target price (up from $27.00) on shares of Sonic in a research note on Friday, January 5th. Zacks Investment Research downgraded Sonic from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. Cowen restated a “hold” rating and issued a $29.00 target price on shares of Sonic in a research note on Tuesday, January 9th. Barclays raised their target price on Sonic from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, January 16th. Finally, BidaskClub upgraded Sonic from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. 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 stock. Sonic currently has a consensus rating of “Hold” and a consensus target price of $29.64.

COPYRIGHT VIOLATION WARNING: This article was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://theolympiareport.com/2018/02/15/federico-f-pena-sells-9686-shares-of-sonic-co-sonc-stock.html.

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.

Insider Buying and Selling by Quarter for Sonic (NASDAQ:SONC)

Receive News & Ratings for Sonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic and related companies with MarketBeat.com's FREE daily email newsletter.