Ameriprise Financial Inc. Increases Stake in Sony Corporation $SONY

Key Points

• Ameriprise Financial Inc. increased its stake in Sony Corporation by 124.5% in Q1, acquiring an additional 1,142,849 shares, now holding a total worth of $52.81 million.
• Sony reported EPS of $0.30 for the last quarter, exceeding analysts' expectations of $0.24, but fell short of revenue estimates with $17.79 billion against a $18.88 billion forecast.
• Analysts have mixed ratings on Sony, with an average price target of $28.00, reflecting overall confidence but showing some caution with recent downgrades.

Ameriprise Financial Inc. raised its holdings in Sony Corporation (NYSE:SONY - Free Report) by 124.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,060,705 shares of the company's stock after buying an additional 1,142,849 shares during the quarter. Ameriprise Financial Inc.'s holdings in Sony were worth $52,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SONY. Capital Analysts LLC raised its stake in Sony by 400.0% in the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock valued at $25,000 after buying an additional 936 shares during the last quarter. City Holding Co. purchased a new stake in Sony in the first quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Sony in the first quarter valued at about $31,000. Zions Bancorporation National Association UT purchased a new stake in Sony in the first quarter valued at about $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sony by 155.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company's stock valued at $48,000 after buying an additional 1,380 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Stock Performance

Shares of NYSE:SONY traded down $0.48 during trading on Friday, hitting $27.52. The stock had a trading volume of 3,037,853 shares, compared to its average volume of 3,940,329. Sony Corporation has a 12-month low of $17.42 and a 12-month high of $29.16. The stock has a market capitalization of $166.43 billion, a price-to-earnings ratio of 21.84 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $25.83 and a two-hundred day simple moving average of $25.15.

Sony (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $17.79 billion during the quarter, compared to analysts' expectations of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same period last year, the business posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $28.00.

About Sony

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.