Clark Estates Inc. NY Decreases Holdings in Sony Corporation (NYSE:SONY)

Key Points

• Clark Estates Inc. NY reduced its holdings in Sony Corporation by 14.3% during the first quarter, selling 100,000 shares and now owning 600,000 shares valued at approximately $15.2 million.
• Several large investors, including Fiera Capital Corp and Wincap Financial LLC, significantly increased their positions in Sony, with Wincap Financial growing its holdings by 68.2%.
• Wall Street analysts have mixed opinions, with a consensus rating of "Moderate Buy" and an average target price of $28.00, but recently Wall Street Zen downgraded Sony from a "buy" to a "hold."

Clark Estates Inc. NY cut its stake in shares of Sony Corporation (NYSE:SONY - Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 600,000 shares of the company's stock after selling 100,000 shares during the period. Sony accounts for 3.2% of Clark Estates Inc. NY's holdings, making the stock its 10th largest position. Clark Estates Inc. NY's holdings in Sony were worth $15,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SONY. Aristotle Capital Management LLC lifted its position in Sony by 393.7% during the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company's stock worth $1,116,653,000 after acquiring an additional 42,083,842 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Sony by 377.7% during the fourth 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 during the period. Fiduciary Management Inc. WI increased its holdings in shares of Sony by 377.2% during the fourth 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 increased its holdings in shares of 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 purchasing an additional 7,925,643 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Sony by 609.6% during the fourth 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 period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SONY shares. Wall Street Zen cut shares of Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wolfe Research reaffirmed a "peer perform" rating on shares of Sony in a report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sony has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Price Performance

NYSE:SONY traded down $0.04 during mid-day trading on Friday, reaching $24.29. The stock had a trading volume of 1,515,367 shares, compared to its average volume of 5,273,075. The stock has a 50-day simple moving average of $25.41 and a two-hundred day simple moving average of $24.31. The stock has a market capitalization of $146.87 billion, a PE ratio of 19.68, a P/E/G ratio of 11.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57. Sony Corporation has a 12 month low of $15.96 and a 12 month high of $26.94.

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.