Freedom Investment Management Inc. Sells 24,188 Shares of Sony Corporation $SONY

Key Points

• Freedom Investment Management Inc. reduced its stake in Sony Corporation by 30.3%, now holding 55,711 shares valued at approximately $1,414,000.
• Despite the reduction, several institutional investors, such as Aristotle Capital Management and Bank of America Corp, significantly increased their holdings in Sony during the last quarter, with increases of 393.7% and 377.7% respectively.
• Sony shares have shown strong performance, recently opening at $28.5750 and up by 3.4%, with analysts forecasting a consensus price target of $28.00 for the stock.

Freedom Investment Management Inc. lessened its holdings in Sony Corporation (NYSE:SONY - Free Report) by 30.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,711 shares of the company's stock after selling 24,188 shares during the period. Freedom Investment Management Inc.'s holdings in Sony were worth $1,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in shares of Sony by 422.0% during the 4th quarter. Brighton Jones LLC now owns 19,908 shares of the company's stock valued at $421,000 after purchasing an additional 16,094 shares during the last quarter. Barclays PLC lifted its stake in Sony by 2,071.0% in the 4th quarter. Barclays PLC now owns 72,510 shares of the company's stock valued at $1,535,000 after purchasing an additional 69,170 shares during the last quarter. First Trust Advisors LP boosted its position in Sony by 1,421.1% in the fourth quarter. First Trust Advisors LP now owns 185,516 shares of the company's stock valued at $3,926,000 after buying an additional 173,320 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sony by 404.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,765,343 shares of the company's stock valued at $58,515,000 after buying an additional 2,217,167 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Sony by 585.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 37,781 shares of the company's stock worth $799,000 after buying an additional 32,272 shares during the last quarter. Institutional investors own 14.05% of the company's stock.

Sony Trading Up 0.5%

Shares of NYSE:SONY traded up $0.15 during mid-day trading on Thursday, reaching $27.99. 4,571,703 shares of the company's stock were exchanged, compared to its average volume of 5,134,578. 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 twelve month low of $17.42 and a twelve month high of $29.16. The firm has a market capitalization of $169.25 billion, a price-to-earnings ratio of 22.21 and a beta of 0.91. The business's fifty day moving average price is $25.74 and its 200-day moving average price is $25.05.

Sony (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. The business had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same period last year, the company earned $189.90 EPS. Sony has set its FY 2025 guidance at EPS. On average, research analysts predict that Sony Corporation will post 1.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $28.00.

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.