Eagle Global Advisors LLC Has $6.71 Million Stock Position in Sony Corporation (NYSE:SONY)

Key Points

• Eagle Global Advisors LLC reduced its stake in Sony Corporation by 20.8% in Q1, selling off 69,525 shares and holding 264,220 shares worth approximately $6.7 million.
• Several other hedge funds made significant moves regarding their positions in Sony, such as Capital Analysts LLC increasing its holdings by 400% in Q4.
• Market analysts have lowered their rating for Sony from "buy" to "hold," while the stock currently holds a "Moderate Buy" consensus rating and has a target price of $28.00.

Eagle Global Advisors LLC reduced its stake in shares of Sony Corporation (NYSE:SONY - Free Report) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,220 shares of the company's stock after selling 69,525 shares during the quarter. Eagle Global Advisors LLC's holdings in Sony were worth $6,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aristotle Capital Management LLC boosted its position in Sony by 393.7% in the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company's stock valued at $1,116,653,000 after buying an additional 42,083,842 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Sony by 377.7% during the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock valued at $503,713,000 after acquiring an additional 18,821,902 shares during the period. Fiduciary Management Inc. WI boosted its holdings in Sony by 377.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock valued at $218,382,000 after acquiring an additional 8,157,776 shares during the last quarter. Mondrian Investment Partners LTD boosted its holdings in Sony by 358.2% in the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock valued at $223,039,000 after acquiring an additional 7,925,643 shares during the last quarter. Finally, Northern Trust Corp increased its position in Sony by 609.6% in the fourth quarter. Northern Trust Corp now owns 7,587,683 shares of the company's stock worth $160,555,000 after purchasing an additional 6,518,412 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two equities research 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 stock. According to data from MarketBeat, Sony currently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Trading Down 0.9%

Shares of SONY stock traded down $0.25 during trading hours on Thursday, reaching $27.73. The company had a trading volume of 2,315,958 shares, compared to its average volume of 5,234,994. Sony Corporation has a 1-year low of $17.42 and a 1-year high of $28.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market cap of $167.72 billion, a price-to-earnings ratio of 22.01 and a beta of 0.91. The company has a 50 day moving average of $25.34 and a 200 day moving average of $24.65.

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

Sony Company 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.