Sony Corporation $SONY is Nixon Capital LLC's 6th Largest Position

Key Points

• Nixon Capital LLC has reduced its holdings in Sony Corporation by 36.4%, selling 393,577 shares, and now holds a total of 689,073 shares valued at approximately $17.5 million.
• Institutional investors continue to show significant interest in Sony, with Northern Trust Corp recently increasing its holdings by 3.4% and Royal Bank of Canada expanding its stake by a remarkable 416.6%.
• Sony's stock has been downgraded from a "buy" to a "hold" rating by Wall Street analysts, despite having a current consensus rating of "buy" with a price target of $28.00.

Nixon Capital LLC decreased its stake in Sony Corporation (NYSE:SONY - Free Report) by 36.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 689,073 shares of the company's stock after selling 393,577 shares during the quarter. Sony makes up 6.0% of Nixon Capital LLC's portfolio, making the stock its 6th biggest holding. Nixon Capital LLC's holdings in Sony were worth $17,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SONY. Royal Bank of Canada increased its position in Sony by 416.6% in the fourth quarter. Royal Bank of Canada now owns 5,796,210 shares of the company's stock worth $122,649,000 after buying an additional 4,674,249 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Sony during the first quarter worth about $78,905,000. LMR Partners LLP purchased a new stake in shares of Sony during the fourth quarter worth about $44,854,000. 1832 Asset Management L.P. grew its position in shares of Sony by 702.4% during the first quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company's stock worth $33,472,000 after purchasing an additional 1,154,010 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Sony by 124.5% during the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock worth $52,814,000 after purchasing an additional 1,142,849 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sony Price Performance

NYSE SONY traded down $0.29 during trading on Friday, hitting $27.56. 2,620,164 shares of the stock traded hands, compared to its average volume of 3,382,922. The company has a market capitalization of $166.64 billion, a P/E ratio of 21.87 and a beta of 0.94. The firm has a 50-day simple moving average of $26.05 and a 200-day simple moving average of $25.26. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. Sony Corporation has a 12-month low of $17.42 and a 12-month high of $29.16.

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 the consensus estimate of $0.24 by $0.06. The business had revenue of $17.79 billion during the quarter, compared to analysts' expectations of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same quarter last year, the business posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. As a group, analysts predict that Sony Corporation will post 1.23 EPS for the current year.

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.