Sony Corporation $SONY Stock Position Lessened by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its stake in Sony Corporation by 4.3%, selling 268,882 shares, which now makes up 1.7% of its total holdings.
• Analyst ratings for Sony have decreased, with Wall Street Zen downgrading the stock from "buy" to "hold," while still maintaining a general consensus "buy" rating with a target price of $28.00.
• Sony recently reported earnings of $0.30 per share, exceeding analysts' expectations, but fell short on revenue with $17.79 billion, against a consensus estimate of $18.88 billion.

Gamco Investors INC. ET AL cut its holdings in shares of Sony Corporation (NYSE:SONY - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,055,292 shares of the company's stock after selling 268,882 shares during the period. Sony accounts for about 1.7% of Gamco Investors INC. ET AL's holdings, making the stock its 4th biggest position. Gamco Investors INC. ET AL owned approximately 0.10% of Sony worth $153,744,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SONY. Aristotle Capital Management LLC grew its position in Sony 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 buying an additional 42,083,842 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Sony 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. Northern Trust Corp boosted its position in shares of Sony by 3.4% during the 1st quarter. Northern Trust Corp now owns 7,845,521 shares of the company's stock worth $199,198,000 after purchasing an additional 257,838 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Sony by 416.6% during the 4th quarter. Royal Bank of Canada now owns 5,796,210 shares of the company's stock worth $122,649,000 after purchasing an additional 4,674,249 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Sony during the 1st quarter worth $78,905,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $28.00.

Sony Trading Down 1.7%

Shares of SONY stock opened at $28.13 on Tuesday. The firm has a 50-day moving average price of $25.65 and a 200 day moving average price of $25.01. Sony Corporation has a twelve month low of $17.42 and a twelve month high of $29.16. The company has a market capitalization of $170.12 billion, a price-to-earnings ratio of 22.33 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16.

Sony (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The company had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. During the same quarter in the prior year, the company posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. Research analysts forecast that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

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.

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