Sony Corporation (NYSE:SONY) Shares Sold by Foresight Global Investors Inc.

Key Points

• Foresight Global Investors Inc. has reduced its stake in Sony Corporation by 6.7%, selling 74,538 shares, leaving it with a total of 1,044,627 shares, which represents 18.6% of its portfolio.
• Sony's stock has seen fluctuations, closing at $24.90 with a 52-week range between $16.69 and $26.94, and currently holds a market cap of approximately $150.56 billion.
• Analysts have downgraded Sony from a "buy" to a "hold" rating, leading to a consensus price target of $28.00 among market analysts.

Foresight Global Investors Inc. decreased its holdings in Sony Corporation (NYSE:SONY - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,044,627 shares of the company's stock after selling 74,538 shares during the quarter. Sony accounts for about 18.6% of Foresight Global Investors Inc.'s investment portfolio, making the stock its largest position. Foresight Global Investors Inc.'s holdings in Sony were worth $26,523,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP grew its holdings in shares of Sony by 536.0% during the 4th quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock valued at $2,439,000 after acquiring an additional 97,130 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Sony by 435.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 582,400 shares of the company's stock worth $12,323,000 after purchasing an additional 473,700 shares in the last quarter. BSW Wealth Partners boosted its holdings in Sony by 87.0% in the first quarter. BSW Wealth Partners now owns 26,662 shares of the company's stock worth $677,000 after purchasing an additional 12,404 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Sony by 386.6% in the fourth quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company's stock worth $19,424,000 after purchasing an additional 729,218 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Sony by 18.4% in the first quarter. Ballentine Partners LLC now owns 86,779 shares of the company's stock worth $2,203,000 after purchasing an additional 13,493 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Stock Performance

Sony stock traded up $1.12 on Friday, reaching $27.15. 4,946,465 shares of the stock were exchanged, compared to its average volume of 4,292,736. The stock has a market cap of $164.19 billion, a PE ratio of 21.55, a PEG ratio of 12.46 and a beta of 0.91. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. Sony Corporation has a twelve month low of $16.73 and a twelve month high of $27.29. The firm has a fifty day moving average price of $25.30 and a two-hundred day moving average price of $24.51.

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, topping analysts' consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 14.12%. During the same quarter in the previous year, the business earned $189.90 EPS. Sell-side analysts anticipate that Sony Corporation will post 1.23 EPS for the current year.

About Sony

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.