Ethic Inc. Acquires 11,220 Shares of Sony Corporation $SONY

Key Points

• Ethic Inc. increased its stake in Sony Corporation by 2.4%, acquiring an additional 11,220 shares to reach a total of 473,381 shares worth $12.45 million as of the latest reporting period.
• Several institutional investors have also increased their positions in Sony, with notable increases including a 90.7% stake lift by Rehmann Capital Advisory Group.
• Analyst ratings for Sony have improved, with Zacks Research upgrading the stock to a strong-buy rating, contributing to a consensus rating of Buy with a target price of $33.00.

Ethic Inc. grew its stake in Sony Corporation (NYSE:SONY - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 473,381 shares of the company's stock after purchasing an additional 11,220 shares during the quarter. Ethic Inc.'s holdings in Sony were worth $12,450,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Rehmann Capital Advisory Group lifted its stake in Sony by 90.7% in the second quarter. Rehmann Capital Advisory Group now owns 23,344 shares of the company's stock valued at $608,000 after buying an additional 11,105 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in shares of Sony in the 2nd quarter valued at approximately $791,000. FNY Investment Advisers LLC bought a new position in Sony during the 2nd quarter worth approximately $1,067,000. D.A. Davidson & CO. acquired a new stake in Sony in the second quarter worth $214,000. Finally, Wallace Advisory Group LLC boosted its position in shares of Sony by 3.7% during the second quarter. Wallace Advisory Group LLC now owns 14,681 shares of the company's stock worth $373,000 after purchasing an additional 524 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research raised Sony from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 16th. Cfra Research upgraded shares of Sony to a "moderate buy" rating in a report on Friday, October 10th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Sony in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Sony currently has a consensus rating of "Buy" and a consensus target price of $33.00.

Sony Stock Down 1.0%

Sony stock opened at $28.85 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Sony Corporation has a 1-year low of $17.42 and a 1-year high of $30.28. The company has a fifty day simple moving average of $28.70 and a 200 day simple moving average of $26.29. The company has a market cap of $174.44 billion, a P/E ratio of 22.88 and a beta of 0.95.

Sony (NYSE:SONY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Sony had a return on equity of 13.88% and a net margin of 9.14%.The business had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. During the same quarter in the previous year, the business earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. Research analysts anticipate that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

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.

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