SouthState Corp Sells 14,654 Shares of Sony Corporation (NYSE:SONY)

Key Points

• SouthState Corp reduced its holdings in Sony Corporation by 2.1%, selling 14,654 shares and holding a total of 679,607 shares valued at $17.3 million as of the latest quarter.
• Other institutional investors have notably increased their stakes in Sony, with Brighton Jones LLC boosting its position by 422.0% and Mondrian Investment Partners LTD by 358.2% during the previous quarter.
• Analysts have lowered Sony's rating from "buy" to "hold" while maintaining an average price target of $28.00 for the stock, which currently holds a "Moderate Buy" rating.

SouthState Corp lowered its position in Sony Corporation (NYSE:SONY - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 679,607 shares of the company's stock after selling 14,654 shares during the quarter. SouthState Corp's holdings in Sony were worth $17,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SONY. Aristotle Capital Management LLC increased its position in Sony by 393.7% during 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 purchasing an additional 42,083,842 shares during the period. Bank of America Corp DE increased its position in Sony by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock valued at $503,713,000 after purchasing an additional 18,821,902 shares during the period. Fiduciary Management Inc. WI increased its position in Sony by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock valued at $218,382,000 after purchasing an additional 8,157,776 shares during the period. Mondrian Investment Partners LTD increased its position in Sony by 358.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock valued at $223,039,000 after purchasing an additional 7,925,643 shares during the period. Finally, Northern Trust Corp increased its position in Sony by 609.6% during the 4th quarter. Northern Trust Corp now owns 7,587,683 shares of the company's stock valued at $160,555,000 after purchasing an additional 6,518,412 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sony has a consensus rating of "Moderate Buy" and an average target price of $28.00.

Sony Trading Down 0.2%

Shares of SONY stock traded down $0.05 during trading hours on Tuesday, hitting $27.23. 349,190 shares of the company were exchanged, compared to its average volume of 5,233,657. The firm has a market cap of $164.69 billion, a P/E ratio of 21.61 and a beta of 0.91. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two week high of $27.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The company has a 50 day simple moving average of $25.31 and a two-hundred day simple moving average of $24.61.

Sony (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. The company had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same quarter last year, the firm posted $189.90 EPS. Equities analysts anticipate 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.