FCA Corp TX Raises Holdings in Sony Corporation (NYSE:SONY)

Key Points

• FCA Corp TX significantly increased its holdings in Sony Corporation by 308.2%, owning 20,000 shares valued at $508,000 at the end of the latest reporting period.
• Other institutional investors also boosted their stakes in Sony, with Aristotle Capital Management LLC raising its stake by 393.7%, now owning over 52 million shares valued at more than $1.1 billion.
• Analysts have downgraded Sony from a "buy" to a "hold" rating, resulting in an average price target of $28.00 for the stock.

FCA Corp TX grew its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 308.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company's stock after buying an additional 15,100 shares during the period. FCA Corp TX's holdings in Sony were worth $508,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aristotle Capital Management LLC raised its stake in shares of Sony by 393.7% during 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 purchasing an additional 42,083,842 shares during the period. Bank of America Corp DE raised its stake in shares of Sony by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock valued at $503,713,000 after purchasing an additional 18,821,902 shares during the period. Fiduciary Management Inc. WI raised its stake in shares of Sony by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock valued at $218,382,000 after purchasing an additional 8,157,776 shares during the period. Northern Trust Corp raised its stake in shares of Sony by 609.6% during the 4th quarter. Northern Trust Corp now owns 7,587,683 shares of the company's stock valued at $160,555,000 after purchasing an additional 6,518,412 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Sony by 416.6% during the 4th quarter. Royal Bank of Canada now owns 5,796,210 shares of the company's stock valued at $122,649,000 after purchasing an additional 4,674,249 shares during the period. Hedge funds and other institutional investors own 14.05% of the company's stock.

Analyst Ratings Changes

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

Sony Trading Up 2.9%

Shares of SONY stock opened at $27.98 on Thursday. The stock has a market capitalization of $169.21 billion, a PE ratio of 22.21 and a beta of 0.91. Sony Corporation has a 1-year low of $17.42 and a 1-year high of $28.04. The business has a 50-day moving average of $25.34 and a 200 day moving average of $24.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $18.88 billion. During the same quarter last year, the business posted $189.90 EPS. As a group, sell-side analysts anticipate that Sony Corporation will post 1.23 earnings per share for the current 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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