Dividend On Watch: Sonic Corp. (NASDAQ:SONC) dividends of $0.14 are projected for the near future; this is why.

Dividend On Watch: Sonic Corp. (NASDAQ:SONC) dividends of $0.14 are projected for the near future; this is why.

Sonic Corp. (NASDAQ:SONC) is expected to pay $0.14 on Nov 18, 2016. The indicated annual dividend is $0.56. Shareholders owning the stock before Nov 7, 2016 will be eligible to receive the payout. Based on Sonic Corp.’s current price of $23.45, the dividend is 0.60%. This dividend’s record date is Nov 9, 2016 and the announcement date is Oct 21, 2016. The stock decreased 0.13% or $0.03 on November 4, hitting $23.45. About 450,829 shares traded hands. Sonic Corporation (NASDAQ:SONC) has declined 33.64% since April 5, 2016 and is downtrending. It has underperformed by 35.60% the S&P500.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The company has a market cap of $1.10 billion. The Firm has around 3,512 Sonic Drive-Ins in 44 states of the United States. It has a 18.4 P/E ratio. The Company’s product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack.

Insitutional Activity: The institutional sentiment decreased to 0.67 in 2016 Q2. Its down 0.19, from 0.86 in 2016Q1. The ratio turned negative, as 31 funds sold all Sonic Corporation shares owned while 84 reduced positions. 28 funds bought stakes while 49 increased positions. They now own 46.36 million shares or 5.31% less from 48.96 million shares in 2016Q1.
Nordea Invest Management Ab holds 0% or 21,356 shares in its portfolio. Bnp Paribas Inv Prtnrs has 112,267 shares for 0.03% of their US portfolio. Swiss Financial Bank has 0% invested in the company for 85,500 shares. Morgan Stanley, a New York-based fund reported 888,422 shares. Hl Financial Lc holds 0.05% of its portfolio in Sonic Corporation (NASDAQ:SONC) for 85,249 shares. Moreover, Parametric Portfolio Associate Limited has 0% invested in Sonic Corporation (NASDAQ:SONC) for 83,029 shares. Gotham Asset Management Lc last reported 150,257 shares in the company. Clearline Lp has 0.25% invested in the company for 46,971 shares. Piedmont Investment Advisors Ltd Com holds 39 shares or 0% of its portfolio. Moreover, Columbia Prtn L L C Mgmt has 0.14% invested in Sonic Corporation (NASDAQ:SONC) for 70,509 shares. Canada Pension Plan Invest Board has invested 0.02% of its portfolio in Sonic Corporation (NASDAQ:SONC). Finemark Commercial Bank Tru has invested 0% of its portfolio in Sonic Corporation (NASDAQ:SONC). Ladenburg Thalmann last reported 0% of its portfolio in the stock. Cobiz Mgmt Ltd Liability Company has 55,783 shares for 0.38% of their US portfolio. Price T Rowe Assocs Inc Md accumulated 1.83M shares or 0.01% of the stock.

Insider Transactions: Since May 25, 2016, the stock had 1 buying transaction, and 1 insider sale for $463,320 net activity. 10,000 Sonic Corporation (NASDAQ:SONC) shares with value of $298,500 were bought by Taylor Kathy L. 25,394 Sonic Corporation (NASDAQ:SONC) shares with value of $761,820 were sold by Miller Craig Jeffrey.

Sonic Corporation (NASDAQ:SONC) Ratings Coverage

Out of 10 analysts covering Sonic (NASDAQ:SONC), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. Sonic has been the topic of 25 analyst reports since August 25, 2015 according to StockzIntelligence Inc. Telsey Advisory Group maintained Sonic Corporation (NASDAQ:SONC) rating on Wednesday, January 6. Telsey Advisory Group has “Outperform” rating and $37.0 price target. Bank of America maintained Sonic Corporation (NASDAQ:SONC) on Friday, June 24 with “Buy” rating. UBS maintained Sonic Corporation (NASDAQ:SONC) rating on Tuesday, September 20. UBS has “Neutral” rating and $28 price target. The company was maintained on Wednesday, September 28 by Barclays Capital. Canaccord Genuity maintained it with “Buy” rating and $30 target price in Tuesday, October 25 report. Telsey Advisory Group initiated it with “Outperform” rating and $29 target price in Tuesday, September 29 report. The firm has “Buy” rating by Longbow given on Monday, September 21. Telsey Advisory Group maintained the shares of SONC in a report on Tuesday, October 20 with “Outperform” rating. The firm earned “Neutral” rating on Wednesday, March 30 by UBS. Jefferies maintained it with “Hold” rating and $34 target price in Wednesday, March 30 report.

More notable recent Sonic Corporation (NASDAQ:SONC) news were published by: Fool.com which released: “Why Sonic Corporation Stock Got Zonked Today” on October 25, 2016, also Fool.com with their article: “Why Sonic Corp. Shares Jumped 19% in 2015” published on January 10, 2016, Fool.com published: “Why Sonic Corp. Stock Dropped Today” on June 24, 2016. More interesting news about Sonic Corporation (NASDAQ:SONC) were released by: Fool.com and their article: “Why Sonic Corporation Stock Popped Today” published on October 20, 2015 as well as Fool.com‘s news article titled: “Why Sonic Corp. Stock Slipped 13% in May” with publication date: June 08, 2016.

SONC Company Profile

Sonic Corp., incorporated on August 31, 1990, operates and franchises a chain of drive-in restaurants in the United States. As of May 31, 2015, the Company had 3,512 Sonic Drive-Ins in 44 states of the United States. The Company’s product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack.

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