Fortis Capital Advisors LLC Purchases Shares of 33,493 Sony Corporation $SONY

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in Sony Corporation, purchasing 33,493 shares valued at approximately $850,000.
• During the first quarter, several other institutional investors also acquired new positions in Sony, collectively increasing the institutional ownership to 14.05%.
• Sony reported $0.30 earnings per share for the last quarter, surpassing estimates, while its revenue was $17.79 billion, slightly below expectations.

Fortis Capital Advisors LLC purchased a new position in Sony Corporation (NYSE:SONY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,493 shares of the company's stock, valued at approximately $850,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. City Holding Co. acquired a new position in shares of Sony in the 1st quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Sony in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Sony in the 1st quarter worth approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sony by 155.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company's stock worth $48,000 after purchasing an additional 1,380 shares during the period. Finally, Ameliora Wealth Management Ltd. acquired a new position in shares of Sony in the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 14.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Sony currently has an average rating of "Buy" and an average price target of $28.00.

Sony Trading Up 0.1%

Shares of NYSE:SONY traded up $0.03 during mid-day trading on Friday, hitting $29.22. The company had a trading volume of 4,680,230 shares, compared to its average volume of 3,451,294. The firm has a fifty day moving average price of $26.37 and a 200 day moving average price of $25.40. The company has a market capitalization of $176.68 billion, a PE ratio of 23.19 and a beta of 0.94. 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 Corporation has a one year low of $17.42 and a one year high of $29.41.

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, beating the consensus estimate of $0.24 by $0.06. The company 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 13.88%. During the same quarter in the previous year, the business posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Sony Corporation will post 1.23 EPS 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.