Sony Corporation (NYSE:SONY) Shares Sold by Minneapolis Portfolio Management Group LLC

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

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Sony by 422.0% in the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company's stock valued at $421,000 after acquiring an additional 16,094 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Sony by 293.4% in the fourth quarter. Bank of New York Mellon Corp now owns 805,812 shares of the company's stock valued at $17,051,000 after buying an additional 600,974 shares during the period. Proficio Capital Partners LLC bought a new position in Sony in the fourth quarter valued at approximately $329,000. Jones Financial Companies Lllp grew its holdings in Sony by 283.3% during the 4th quarter. Jones Financial Companies Lllp now owns 30,499 shares of the company's stock worth $645,000 after acquiring an additional 22,543 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Sony by 393.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,992 shares of the company's stock valued at $317,000 after acquiring an additional 11,955 shares during the last quarter. Institutional investors own 14.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SONY shares. Wolfe Research restated a "peer perform" rating on shares of Sony in a research report on Monday, April 7th. The Goldman Sachs Group began coverage on shares of Sony in a research report on Tuesday, March 25th. They issued a "buy" rating on the stock. Finally, Wall Street Zen lowered shares of Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sony presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Stock Down 0.4%

SONY stock traded down $0.11 during mid-day trading on Friday, hitting $25.60. 2,282,827 shares of the company were exchanged, compared to its average volume of 4,420,236. The firm's 50 day simple moving average is $25.62 and its 200 day simple moving average is $23.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.70. Sony Corporation has a 1-year low of $15.96 and a 1-year high of $26.95. The firm has a market cap of $154.82 billion, a P/E ratio of 20.75, a P/E/G ratio of 12.29 and a beta of 0.94.

Sony Company 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.