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

Minneapolis Portfolio Management Group LLC reduced its holdings in Sony Corporation (NYSE:SONY - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,601,019 shares of the company's stock after selling 31,968 shares during the quarter. Sony makes up approximately 5.6% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 2nd largest holding. Minneapolis Portfolio Management Group LLC's holdings in Sony were worth $40,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Forum Financial Management LP increased its holdings in Sony by 536.0% during the fourth quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock worth $2,439,000 after buying an additional 97,130 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Sony by 435.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 582,400 shares of the company's stock worth $12,323,000 after buying an additional 473,700 shares during the last quarter. BSW Wealth Partners lifted its position in Sony by 87.0% during the first quarter. BSW Wealth Partners now owns 26,662 shares of the company's stock worth $677,000 after acquiring an additional 12,404 shares during the last quarter. Aviso Financial Inc. lifted its holdings in Sony by 393.3% during the 4th quarter. Aviso Financial Inc. now owns 77,700 shares of the company's stock worth $1,644,000 after purchasing an additional 61,950 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Sony by 386.6% during the fourth quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company's stock worth $19,424,000 after buying an additional 729,218 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented 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 assumed coverage on shares of Sony in a report 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 report on Thursday, May 22nd. Two 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Trading Down 0.4%

NYSE SONY traded down $0.11 during trading hours on Wednesday, hitting $25.14. 3,864,454 shares of the company's stock were exchanged, compared to its average volume of 5,413,693. The firm has a market cap of $152.04 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 12.16 and a beta of 0.94. Sony Corporation has a 1-year low of $15.96 and a 1-year high of $26.94. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $25.61 and a 200 day simple moving average of $23.93.

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.