Sony Corporation $SONY Shares Sold by Todd Asset Management LLC

Key Points

• Todd Asset Management cut its Sony stake by 30.4% in the fourth quarter, selling 364,453 shares and leaving it with 833,175 shares worth about $21.3 million.
• Sony also saw notable insider selling: Director Kenichiro Yoshida sold 400,000 shares and insider Tsuyoshi Kodera sold 17,500 shares, both at $22.61 per share.
• Sony’s latest earnings missed analyst expectations on EPS, though revenue came in above estimates and was up 8.3% year over year; analysts currently have a consensus rating of Hold with a $22 target price.

Todd Asset Management LLC lowered its position in Sony Corporation (NYSE:SONY - Free Report) by 30.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 833,175 shares of the company's stock after selling 364,453 shares during the quarter. Todd Asset Management LLC's holdings in Sony were worth $21,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. YANKCOM Partnership boosted its holdings in Sony by 748.7% in the fourth quarter. YANKCOM Partnership now owns 976 shares of the company's stock valued at $25,000 after acquiring an additional 861 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in Sony by 304.0% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company's stock valued at $29,000 after acquiring an additional 760 shares during the last quarter. Binnacle Investments Inc boosted its holdings in Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company's stock valued at $30,000 after acquiring an additional 464 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Sony in the fourth quarter valued at $27,000. Finally, Elyxium Wealth LLC acquired a new position in Sony in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 14.05% of the company's stock.

Insider Transactions at Sony

In other news, Director Kenichiro Yoshida sold 400,000 shares of Sony stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the sale, the director directly owned 661,615 shares of the company's stock, valued at approximately $14,959,115.15. The trade was a 37.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tsuyoshi Kodera sold 17,500 shares of Sony stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $22.61, for a total value of $395,675.00. Following the sale, the insider directly owned 27,553 shares in the company, valued at approximately $622,973.33. The trade was a 38.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SONY has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated a "market perform" rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sony in a report on Wednesday. Finally, Benchmark reissued a "buy" rating on shares of Sony in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Sony has a consensus rating of "Hold" and a consensus target price of $22.00.

Sony Trading Down 0.2%

NYSE:SONY opened at $22.09 on Monday. The business's 50-day moving average is $21.06 and its two-hundred day moving average is $23.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94. Sony Corporation has a 12 month low of $19.63 and a 12 month high of $30.34. The firm has a market capitalization of $131.40 billion, a PE ratio of -110.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. The company had revenue of $19.15 billion during the quarter, compared to analysts' expectations of $18.43 billion. During the same period last year, the business earned $32.86 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts predict that Sony Corporation will post 1.3 earnings per share for the current fiscal year.

Sony Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, March 30th will be given a dividend of $0.0796 per share. This represents a dividend yield of 80.0%. The ex-dividend date of this dividend is Monday, March 30th. Sony's payout ratio is presently -55.00%.

Key Headlines Impacting Sony

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s upgraded Reon Pocket Pro Plus wearable “air conditioner” is drawing fresh consumer interest and favorable coverage, which could help showcase growth in its non-gaming hardware lineup. Sony Launches Reon Pocket Pro Plus Wearable Air Conditioner In Time For Summer Heatwaves
• Positive Sentiment: Multiple articles highlight strong consumer appeal for Sony’s wearable cooling device, suggesting the product could become a seasonal sales driver and improve sentiment around Sony’s innovation pipeline. Sony's wearable 'air conditioner' gets an upgrade for a better fit and stronger cooling
• Positive Sentiment: A petition calling on Sony to develop Destiny 3 has surpassed 120,000 signatures, underscoring continued fan demand for PlayStation content and the value of Sony’s gaming franchises. A Petition Calling on Sony to Greenlight Destiny 3 Has Over 120000 Signatures Already — and It's Rising Fast
• Neutral Sentiment: Coverage of Sony E-mount camera lenses and Sony-branded headphones reflects continued brand strength in consumer electronics, but it is unlikely to materially move the stock on its own. Thypoch enters autofocus market with Voyager 24-50mm f-2.8 for Sony E-mount
• Neutral Sentiment: Consumer deal articles mentioning Sony headphones and portable speakers may help brand visibility, but they do not appear to include any new company-specific catalyst. I've tested portable speakers from Bose, Sony, JBL, more - these deals are actually worth it
• Neutral Sentiment: Reports on Sony’s Xperia 1 VIII and a new PlayStation model add to product buzz, but they are speculative and do not confirm a major near-term financial impact. Sony Xperia 1 VIII is a step in the right direction, with features Samsung Galaxy phones miss -- so why is a US launch so hard?
• Neutral Sentiment: Media commentary about Sony potentially launching another PlayStation to offset slower PS5 sales points to ongoing strategy discussion, but it remains unconfirmed and speculative. Sony apparently thinks the best fix for slow PS5 sales is... another PlayStation
• Neutral Sentiment: Coverage of the Sony WH-1000XM5 hitting a record-low price is consumer-focused and could support demand, but it is not a major fundamental catalyst for the stock. Twice as Cheap as the XM6, the Sony WH-1000XM5 ANC Headphone Just Hit a Record Low
• Negative Sentiment: Discussion of slower PS5 sales could weigh on sentiment if investors worry Sony’s gaming momentum is cooling, even though the reports are mostly speculative. Sony apparently thinks the best fix for slow PS5 sales is... another PlayStation

Sony Company Profile

Sony Group Corporation NYSE: SONY is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

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