21,680 Shares in Sony Corporation (NYSE:SONY) Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• Oversea Chinese Banking Corp Ltd acquired a new stake of 21,680 shares in Sony Corporation, valued at approximately $551,000, during the first quarter.
• Several institutional investors have significantly increased their holdings in Sony, with Aristotle Capital Management LLC growing its stake by 393.7%.
• Sony's stock is currently rated as a "Moderate Buy" with a consensus price target of $28.00 according to analysts, following some recent downgrades.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Sony Corporation (NYSE:SONY - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 21,680 shares of the company's stock, valued at approximately $551,000.

Several other hedge funds have also recently made changes to their positions in the business. Aristotle Capital Management LLC increased its holdings in 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 acquiring an additional 42,083,842 shares during the last quarter. Bank of America Corp DE raised its position in Sony by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock worth $503,713,000 after buying an additional 18,821,902 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in shares of Sony by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock worth $218,382,000 after purchasing an additional 8,157,776 shares during the period. Mondrian Investment Partners LTD raised its position in Sony by 358.2% during the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock worth $223,039,000 after acquiring an additional 7,925,643 shares during the period. Finally, Northern Trust Corp boosted its stake in Sony by 609.6% during the 4th quarter. Northern Trust Corp now owns 7,587,683 shares of the company's stock worth $160,555,000 after purchasing an additional 6,518,412 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two 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. Based on data from MarketBeat, Sony presently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Sony Price Performance

NYSE:SONY traded up $0.37 during mid-day trading on Wednesday, reaching $24.90. 5,567,135 shares of the stock were exchanged, compared to its average volume of 4,200,174. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. Sony Corporation has a 1-year low of $16.69 and a 1-year high of $26.94. The firm has a market capitalization of $150.56 billion, a PE ratio of 20.17, a PEG ratio of 11.97 and a beta of 0.91. The business has a fifty day moving average price of $25.33 and a 200 day moving average price of $24.43.

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.