Sony Corporation (NYSE:SONY) Position Reduced by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC trimmed its holdings in shares of Sony Corporation (NYSE:SONY - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,601,019 shares of the company's stock after selling 31,968 shares during the quarter. Sony accounts for approximately 5.6% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 2nd biggest position. Minneapolis Portfolio Management Group LLC's holdings in Sony were worth $40,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA boosted its holdings in Sony by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock valued at $2,158,232,000 after acquiring an additional 80,724,932 shares during the period. Aristotle Capital Management LLC boosted its stake in shares of Sony by 393.7% in 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 buying an additional 42,083,842 shares during the period. Bank of America Corp DE boosted its stake in shares of Sony by 377.7% in 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 buying an additional 18,821,902 shares during the period. Fiduciary Management Inc. WI boosted its stake in shares of Sony by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock valued at $218,382,000 after buying an additional 8,157,776 shares during the period. Finally, Mondrian Investment Partners LTD boosted its stake in shares of Sony by 358.2% in the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock valued at $223,039,000 after buying an additional 7,925,643 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Stock Performance

Shares of NYSE:SONY traded down $0.31 during trading on Monday, reaching $25.27. The company had a trading volume of 4,072,200 shares, compared to its average volume of 4,418,841. The firm has a market capitalization of $152.82 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 12.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57. The stock's fifty day moving average price is $25.62 and its 200 day moving average price is $23.89. Sony Corporation has a fifty-two week low of $15.96 and a fifty-two week high of $26.95.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SONY shares. Wolfe Research restated a "peer perform" rating on shares of Sony in a research note on Monday, April 7th. The Goldman Sachs Group started coverage on Sony in a research note on Tuesday, March 25th. They set a "buy" rating for the company. Finally, Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sony currently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

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.