S&CO Inc. Raises Holdings in Sony Group Co. (NYSE:SONY)

S&CO Inc. lifted its stake in Sony Group Co. (NYSE:SONY) by 400.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,000 shares of the company’s stock after buying an additional 44,000 shares during the quarter. S&CO Inc.’s holdings in Sony Group were worth $1,163,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SONY. Janney Montgomery Scott LLC boosted its stake in shares of Sony Group by 5.8% in the third quarter. Janney Montgomery Scott LLC now owns 27,295 shares of the company’s stock worth $2,636,000 after buying an additional 1,504 shares during the last quarter. Assetmark Inc. raised its holdings in Sony Group by 4.1% in the 3rd quarter. Assetmark Inc. now owns 100,165 shares of the company’s stock worth $9,673,000 after purchasing an additional 3,925 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Sony Group by 39.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after purchasing an additional 29,165 shares during the period. Delta Financial Advisors LLC acquired a new position in Sony Group in the 3rd quarter worth about $202,000. Finally, Mizuho Markets Americas LLC acquired a new position in Sony Group in the 3rd quarter worth about $324,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

SONY has been the subject of a number of analyst reports. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $28.00.

Sony Group Price Performance

Shares of Sony Group stock opened at $22.87 on Tuesday. The business has a 50 day simple moving average of $22.48 and a two-hundred day simple moving average of $17.66. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64. The stock has a market capitalization of $138.28 billion, a P/E ratio of 18.56, a PEG ratio of 9.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

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

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.