Royal Bank of Canada Raises Stock Holdings in Sony Group Co. (NYSE:SONY)

Royal Bank of Canada lifted its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 416.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,796,210 shares of the company's stock after buying an additional 4,674,249 shares during the period. Royal Bank of Canada owned approximately 0.10% of Sony Group worth $122,649,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SONY. Primecap Management Co. CA increased its stake in Sony Group by 379.5% during the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock worth $2,158,232,000 after acquiring an additional 80,724,932 shares during the last quarter. Aristotle Capital Management LLC lifted its stake in shares of Sony Group 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 purchasing an additional 42,083,842 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the period. Bank of America Corp DE increased its position in Sony Group 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 purchasing an additional 18,821,902 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its holdings in Sony Group by 377.2% in the fourth 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. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Stock Up 1.8%

NYSE:SONY traded up $0.45 during trading hours on Thursday, hitting $25.34. The stock had a trading volume of 5,034,544 shares, compared to its average volume of 4,281,626. The business has a 50 day simple moving average of $24.41 and a two-hundred day simple moving average of $22.50. Sony Group Co. has a 1-year low of $15.67 and a 1-year high of $26.08. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market cap of $153.25 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SONY. Wolfe Research reiterated a "peer perform" rating on shares of Sony Group in a research note on Monday, April 7th. Wall Street Zen lowered shares of Sony Group from a "buy" rating to a "hold" rating in a report on Thursday. Oppenheimer reiterated an "outperform" rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, The Goldman Sachs Group initiated coverage on Sony Group in a research report on Tuesday, March 25th. They issued a "buy" rating on the stock. 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 presently has an average rating of "Moderate Buy" and an average price target of $28.00.

About Sony Group

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.