New York State Common Retirement Fund Purchases 432,895 Shares of Sony Group Co. (NYSE:SONY)

New York State Common Retirement Fund lifted its position in Sony Group Co. (NYSE:SONY) by 400.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,000 shares of the company’s stock after buying an additional 432,895 shares during the period. New York State Common Retirement Fund’s holdings in Sony Group were worth $11,448,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Silicon Valley Capital Partners increased its holdings in shares of Sony Group by 401.3% in the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after acquiring an additional 927 shares in the last quarter. General Partner Inc. increased its stake in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Sony Group during the 4th quarter worth approximately $26,000. Hilltop National Bank lifted its stake in Sony Group by 346.3% in the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock valued at $32,000 after buying an additional 1,174 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Sony Group by 400.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company’s stock valued at $32,000 after buying an additional 1,204 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

Sony Group stock opened at $24.82 on Tuesday. The company has a market capitalization of $150.07 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 9.95 and a beta of 0.96. The stock’s 50 day moving average is $21.81 and its 200-day moving average is $16.19. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.29.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Equities research analysts expect that Sony Group Co. will post 1.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SONY. StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group 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.