The 1,493 Shares of Sonic Corp. (SONC) are sold by Dimensional Fund Advisors LP

The 1,493 Shares of Sonic Corp. (SONC) are sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its stake in shares of Sonic Corp. (NASDAQ:SONC) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,858,474 shares of the company’s stock after selling 1,493 shares during the period. Dimensional Fund Advisors LP owned approximately 3.91% of Sonic Corp. worth $50,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc increased its position in Sonic Corp. by 13.4% in the first quarter. Commonwealth Equity Services Inc now owns 15,653 shares of the company’s stock valued at $550,000 after buying an additional 1,854 shares in the last quarter. Aperio Group LLC increased its position in Sonic Corp. by 4.1% in the first quarter. Aperio Group LLC now owns 10,844 shares of the company’s stock valued at $381,000 after buying an additional 426 shares in the last quarter. BlackRock Inc. increased its position in Sonic Corp. by 127.1% in the first quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock valued at $134,000 after buying an additional 2,141 shares in the last quarter. BlackRock Group LTD increased its position in Sonic Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 58,659 shares of the company’s stock valued at $2,064,000 after buying an additional 10,100 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Sonic Corp. by 38.8% in the first quarter. JPMorgan Chase & Co. now owns 544,748 shares of the company’s stock valued at $19,154,000 after buying an additional 152,407 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

Sonic Corp. (NASDAQ:SONC) opened at 26.02 on Friday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 20.25 and a beta of 1.20. Sonic Corp. has a 12 month low of $24.72 and a 12 month high of $36.34. The stock’s 50 day moving average price is $27.01 and its 200-day moving average price is $29.76.

SONC has been the subject of several recent research reports. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Sonic Corp. in a research note on Friday, June 17th. Jefferies Group reduced their target price on Sonic Corp. from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Friday, June 24th. Barclays PLC reduced their target price on Sonic Corp. from $33.00 to $30.00 and set an “underweight” rating on the stock in a report on Friday, June 24th. Bank of America Corp. reduced their target price on Sonic Corp. from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $33.00 target price on shares of Sonic Corp. in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.01.

About Sonic Corp.

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