CIBC Asset Management Inc Has $2.06 Million Stake in Sony Corporation $SONY

Key Points

• CIBC Asset Management significantly increased its Sony stake by 295% in the fourth quarter, ending with 81,111 shares worth about $2.06 million.
• Institutional interest in Sony remains notable, with several other funds also boosting positions; however, only 14.05% of the stock is currently owned by institutions and hedge funds.
• Wall Street sentiment is mixed: analysts currently have a “Hold” consensus rating with a $22.00 average price target, while Sony’s latest quarterly earnings missed EPS expectations despite revenue coming in above estimates.

CIBC Asset Management Inc grew its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 295.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,111 shares of the company's stock after buying an additional 60,578 shares during the quarter. CIBC Asset Management Inc's holdings in Sony were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. YANKCOM Partnership lifted its holdings in shares of Sony by 748.7% during the 4th quarter. YANKCOM Partnership now owns 976 shares of the company's stock valued at $25,000 after buying an additional 861 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Sony during the 4th quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in shares of Sony during the 4th quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Sony by 404.1% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,109 shares of the company's stock valued at $28,000 after buying an additional 889 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in shares of Sony by 304.0% during the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company's stock valued at $29,000 after buying an additional 760 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SONY. Sanford C. Bernstein reiterated a "market perform" rating and set a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Benchmark reiterated a "buy" rating on shares of Sony in a report on Monday, May 11th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Sony in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.00.

Sony Stock Performance

Shares of NYSE SONY opened at $21.91 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $21.31 and its two-hundred day moving average is $23.22. The company has a market cap of $130.32 billion, a P/E ratio of -109.52, a P/E/G ratio of 1.72 and a beta of 0.93. Sony Corporation has a 12 month low of $19.63 and a 12 month high of $30.34.

Sony (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). The business had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $32.86 earnings per share. On average, equities analysts expect that Sony Corporation will post 1.3 EPS for the current year.

Sony Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, March 30th will be given a $0.0796 dividend. This represents a yield of 80.0%. The ex-dividend date of this dividend is Monday, March 30th. Sony's payout ratio is currently -55.00%.

Insider Activity at Sony

In other news, Director Kenichiro Yoshida sold 400,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the sale, the director directly owned 661,615 shares in the company, valued at approximately $14,959,115.15. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tsuyoshi Kodera sold 17,500 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $22.61, for a total value of $395,675.00. Following the sale, the insider owned 27,553 shares in the company, valued at approximately $622,973.33. This represents a 38.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 7.00% of the company's stock.

Sony News Roundup

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony is generating interest around its consumer electronics lineup, including a new WH-1000XM6 sandstone edition in India, strong reviews for its 1000X headphones, and discussion of its next-generation TV technology with True RGB, which could support sentiment around its premium audio and TV businesses.
• Positive Sentiment: The company also received a fresh investment in IP-focused Midnight Labs, reinforcing Sony’s strategy of backing intellectual-property-driven entertainment opportunities. Article Title
• Positive Sentiment: New gaming chatter around God of War and future Kratos-related titles keeps Sony’s PlayStation ecosystem in the spotlight, which may help investor confidence in its games portfolio.
• Neutral Sentiment: Several articles were mostly product-spotlight pieces, such as Sony’s RIALTO 65 cinema camera, the A7R VI camera discussion, and a look back at Sony’s first DSLR; these are supportive of the brand but are unlikely to move the stock on their own. Article Title
• Negative Sentiment: Gaming commentary also included criticism that Sony is “losing its grip on third parties” and that its broader “formula problem” remains an issue, which could weigh on sentiment toward the PlayStation business.
• Negative Sentiment: A report that a PS5 follow-up to a beloved PS2 game was suddenly delisted may add a little negative noise around Sony’s game publishing execution.

Sony Company Profile

Sony Group Corporation NYSE: SONY is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

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