Pitcairn Co. Purchases 136,156 Shares of Sony Group Co. (NYSE:SONY)

Pitcairn Co. lifted its position in Sony Group Co. (NYSE:SONY) by 445.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,692 shares of the company’s stock after purchasing an additional 136,156 shares during the quarter. Pitcairn Co.’s holdings in Sony Group were worth $3,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA lifted its position in shares of Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares during the period. Fisher Asset Management LLC raised its stake in Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after acquiring an additional 36,783,737 shares in the last quarter. Mondrian Investment Partners LTD lifted its holdings in shares of Sony Group by 358.2% during the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after acquiring an additional 7,925,643 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Sony Group by 383.5% in the 4th quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock valued at $125,477,000 after purchasing an additional 4,703,571 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Sony Group by 362.7% in the 4th quarter. Sei Investments Co. now owns 3,245,587 shares of the company’s stock worth $68,677,000 after purchasing an additional 2,544,193 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SONY. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group began coverage on Sony Group in a report on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Performance

Shares of Sony Group stock opened at $24.87 on Thursday. The firm has a 50 day simple moving average of $23.84 and a 200 day simple moving average of $20.06. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The firm has a market cap of $150.41 billion, a P/E ratio of 20.19, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Sell-side analysts predict that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Sony Group Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.