Callan Family Office LLC Sells 33,182 Shares of Sony Corporation (NYSE:SONY)

Key Points

• Callan Family Office LLC reduced its holdings in Sony Corporation by 32.8% to 67,835 shares after selling 33,182 shares, with a total value of $1,722,000 at the end of the last quarter.
• Several large investors, including Aristotle Capital Management and Bank of America, significantly increased their stakes in Sony, with Aristotle's position growing 393.7%.
• Sony reported earnings of $0.30 per share, surpassing analysts' estimates, though its revenue of $17.79 billion fell short of expectations of $18.88 billion.

Callan Family Office LLC cut its holdings in shares of Sony Corporation (NYSE:SONY - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,835 shares of the company's stock after selling 33,182 shares during the period. Callan Family Office LLC's holdings in Sony were worth $1,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SONY. Brighton Jones LLC grew its position in Sony by 422.0% in the 4th quarter. Brighton Jones LLC now owns 19,908 shares of the company's stock worth $421,000 after purchasing an additional 16,094 shares in the last quarter. Alliancebernstein L.P. bought a new stake in Sony in the 4th quarter worth about $200,000. Russell Investments Group Ltd. boosted its stake in Sony by 557.8% in the fourth quarter. Russell Investments Group Ltd. now owns 7,696 shares of the company's stock valued at $163,000 after acquiring an additional 6,526 shares during the last quarter. FMR LLC boosted its stake in Sony by 433.9% in the fourth quarter. FMR LLC now owns 5,611,758 shares of the company's stock valued at $118,745,000 after acquiring an additional 4,560,626 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Sony by 344.9% in the fourth quarter. Invesco Ltd. now owns 1,186,971 shares of the company's stock valued at $25,116,000 after acquiring an additional 920,194 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Stock Performance

Shares of SONY stock traded up $0.99 during trading on Friday, reaching $28.73. 5,182,950 shares of the company's stock traded hands, compared to its average volume of 5,235,222. The company has a market capitalization of $173.75 billion, a P/E ratio of 22.80 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average is $25.37 and its 200 day moving average is $24.69. Sony Corporation has a 1 year low of $17.42 and a 1 year high of $29.16.

Sony (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. The company had revenue of $17.79 billion for the quarter, compared to analysts' expectations of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same period in the prior year, the company posted $189.90 EPS. Equities research analysts expect that Sony Corporation will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Sony 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.