Mondrian Investment Partners LTD Decreases Stock Holdings in Sony Corporation (NYSE:SONY)

Key Points

• Mondrian Investment Partners LTD has sold 283,156 shares of Sony Corporation, reducing its holdings by 2.8% to a total of approximately 9.85 million shares.
• Sony reported $0.30 earnings per share (EPS) for the last quarter, exceeding analysts’ expectations of $0.24, although it fell short on revenue with $17.79 billion compared to a consensus estimate of $18.88 billion.
• Wall Street analysts' consensus rating on Sony is now a "Moderate Buy"** with a target price of $28.00, down from a previous "buy" rating.

Mondrian Investment Partners LTD reduced its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,854,963 shares of the company's stock after selling 283,156 shares during the quarter. Sony accounts for approximately 4.2% of Mondrian Investment Partners LTD's investment portfolio, making the stock its 3rd biggest holding. Mondrian Investment Partners LTD owned approximately 0.16% of Sony worth $246,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Sony by 422.0% during the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company's stock worth $421,000 after purchasing an additional 16,094 shares during the period. Alliancebernstein L.P. bought a new position in Sony during the fourth quarter worth $200,000. Russell Investments Group Ltd. boosted its position in Sony by 557.8% during the fourth quarter. Russell Investments Group Ltd. now owns 7,696 shares of the company's stock worth $163,000 after purchasing an additional 6,526 shares during the period. FMR LLC lifted its holdings in shares of Sony by 433.9% during the fourth quarter. FMR LLC now owns 5,611,758 shares of the company's stock worth $118,745,000 after buying an additional 4,560,626 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Sony by 344.9% during the fourth quarter. Invesco Ltd. now owns 1,186,971 shares of the company's stock worth $25,116,000 after buying an additional 920,194 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Price Performance

Shares of NYSE SONY traded down $0.25 during midday trading on Thursday, reaching $27.73. The company's stock had a trading volume of 2,315,993 shares, compared to its average volume of 4,128,258. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two week high of $28.04. The business's 50 day moving average price is $25.37 and its two-hundred day moving average price is $24.69. The company has a market cap of $167.72 billion, a P/E ratio of 22.01 and a beta of 0.91.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The company had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. During the same period in the previous year, the business earned $189.90 earnings per share. On average, analysts forecast that Sony Corporation will post 1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.00.

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.