Ferguson Wellman Capital Management Inc. Makes New Investment in Sony Corporation $SONY

Key Points

• Ferguson Wellman Capital Management disclosed a new first-quarter stake in Sony, buying 1,156,193 shares valued at about $23.9 million.
• Institutional activity around Sony remains active, with several smaller investors also adding shares, while hedge funds and other institutions now own 14.05% of the stock.
• Analyst sentiment is mixed: Sony has an average Hold rating and a consensus target price of $22, even as insiders have sold shares recently and the stock trades near its 52-week low.

Ferguson Wellman Capital Management Inc. acquired a new position in shares of Sony Corporation (NYSE:SONY - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,156,193 shares of the company's stock, valued at approximately $23,933,000.

Other institutional investors have also recently made changes to their positions in the company. YANKCOM Partnership increased its holdings in Sony by 748.7% in the fourth quarter. YANKCOM Partnership now owns 976 shares of the company's stock valued at $25,000 after buying an additional 861 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Sony during the 4th quarter worth 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 increased its stake in shares of Sony by 404.1% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,109 shares of the company's stock valued at $28,000 after purchasing an additional 889 shares in the last quarter. Finally, Twin Tree Management LP increased its stake in shares of Sony by 4,218.5% in the 4th quarter. Twin Tree Management LP now owns 1,112 shares of the company's stock valued at $28,000 after purchasing an additional 1,139 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sony in a research report on Wednesday, May 20th. Sanford C. Bernstein restated a "market perform" rating and issued a $22.00 price objective (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Finally, Benchmark reaffirmed a "buy" rating on shares of Sony in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.00.

Insider Transactions at Sony

In other Sony news, insider Tsuyoshi Kodera sold 51,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total value of $1,047,540.00. Following the transaction, the insider owned 27,553 shares in the company, valued at approximately $565,938.62. This trade represents a 64.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ravi Ahuja sold 36,826 shares of Sony stock in a transaction on Monday, July 6th. The stock was sold at an average price of $21.08, for a total transaction of $776,292.08. Following the sale, the insider directly owned 58,786 shares in the company, valued at approximately $1,239,208.88. This trade represents a 38.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 771,838 shares of company stock valued at $16,866,580. Insiders own 7.00% of the company's stock.

Key Sony News

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony received a lift from product and business expansion news, including approval to launch a Sony stablecoin and conditional approval for a U.S.-based stablecoin trust bank, which could support longer-term financial services growth. Sony Approved to Launch Sony Stablecoin
• Positive Sentiment: Sony also introduced the RX10 V bridge camera, with AI autofocus, 4K 120fps video and improved battery life, showing continued strength in premium imaging and electronics. Sony revives the RX10 with AI autofocus, 4K 120fps, and a longer-lasting battery
• Positive Sentiment: Sony Classics secured distribution rights to the Javier Bardem and Penélope Cruz thriller Bunker, a modestly positive reminder of Sony’s content pipeline. Javier Bardem & Penélope Cruz Thriller 'Bunker' Sells To Sony Classics

Sony Price Performance

Shares of SONY stock traded down $0.07 on Friday, reaching $20.86. 4,625,402 shares of the company were exchanged, compared to its average volume of 4,968,140. Sony Corporation has a 1 year low of $19.32 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The business has a 50-day moving average price of $21.19 and a 200 day moving average price of $21.98. The company has a market cap of $123.21 billion, a price-to-earnings ratio of -104.27, a P/E/G ratio of 1.66 and a beta of 0.94.

Sony (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.13). Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. The company had revenue of $19.15 billion during the quarter, compared to analysts' expectations of $18.43 billion. During the same period in the prior year, the business posted $32.86 earnings per share. The company's quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Sony Corporation will post 1.28 earnings per share for the current fiscal year.

About Sony

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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