Sony Corporation (NYSE:SONY) Stake Raised by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC increased its stake in Sony Corporation by 59.2%, purchasing an additional 563,802 shares, bringing their total holdings to 1,515,899 shares valued at approximately $38.5 million.
• Sony reported earnings of $0.30 per share for the last quarter, exceeding analysts' expectations, despite revenue falling short at $17.79 billion compared to forecasts of $18.88 billion.
• Analyst ratings for Sony have varied, with two analysts rating it a hold and four giving it a buy rating; the consensus price target is $28.00.

Todd Asset Management LLC grew its holdings in Sony Corporation (NYSE:SONY - Free Report) by 59.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,515,899 shares of the company's stock after purchasing an additional 563,802 shares during the quarter. Todd Asset Management LLC's holdings in Sony were worth $38,489,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Capital Analysts LLC increased its stake in Sony by 400.0% in the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock valued at $25,000 after purchasing an additional 936 shares during the last quarter. City Holding Co. acquired a new position in Sony during the first quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Sony during the 1st quarter worth $31,000. Operose Advisors LLC grew its stake in shares of Sony by 400.0% in the fourth quarter. Operose Advisors LLC now owns 1,520 shares of the company's stock valued at $32,000 after buying an additional 1,216 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Sony in the first quarter valued at approximately $47,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sony Stock Performance

Shares of SONY traded down $0.25 during mid-day trading on Thursday, hitting $27.73. The stock had a trading volume of 2,315,958 shares, compared to its average volume of 5,234,994. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two week high of $28.04. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The company has a market cap of $167.72 billion, a PE ratio of 22.01 and a beta of 0.91. The company's fifty day simple moving average is $25.34 and its two-hundred day simple moving average is $24.65.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The firm 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 in the previous year, the company posted $189.90 earnings per share. On average, equities analysts expect that Sony Corporation will post 1.23 earnings per share for the current year.

Sony Company 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.