K.J. Harrison & Partners Inc lessened its stake in Sony Group Co. (NYSE:SONY - Free Report) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the company's stock after selling 20,000 shares during the quarter. K.J. Harrison & Partners Inc's holdings in Sony Group were worth $1,894,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in Sony Group by 39.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company's stock valued at $87,952,000 after buying an additional 299,300 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in Sony Group by 30.0% during the third quarter. Alberta Investment Management Corp now owns 260,000 shares of the company's stock worth $21,427,000 after acquiring an additional 60,000 shares during the period. Rovida Advisors Inc. purchased a new position in Sony Group in the third quarter worth $4,433,000. SG Americas Securities LLC grew its stake in Sony Group by 2,317.1% in the 4th quarter. SG Americas Securities LLC now owns 54,143 shares of the company's stock valued at $5,127,000 after purchasing an additional 51,903 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of Sony Group during the 3rd quarter valued at $3,494,000. Hedge funds and other institutional investors own 14.05% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on SONY shares. StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a report on Monday, April 8th. TheStreet raised shares of Sony Group from a "c+" rating to a "b-" rating in a report on Thursday, January 11th. Macquarie downgraded Sony Group from an "outperform" rating to a "neutral" rating in a research note on Thursday, February 15th. Finally, Oppenheimer reissued an "outperform" rating and issued a $108.00 target price on shares of Sony Group in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.00.
Check Out Our Latest Report on Sony Group
Sony Group Stock Performance
Shares of SONY traded down $0.11 during trading hours on Friday, hitting $82.33. The company's stock had a trading volume of 440,622 shares, compared to its average volume of 771,330. The business has a 50 day simple moving average of $85.70 and a two-hundred day simple moving average of $88.85. Sony Group Co. has a 52-week low of $79.62 and a 52-week high of $100.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.54. The company has a market cap of $101.61 billion, a price-to-earnings ratio of 15.89 and a beta of 0.98.
Sony Group (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The company had revenue of $25.38 billion during the quarter, compared to the consensus estimate of $24.31 billion. On average, equities analysts expect that Sony Group Co. will post 5.21 earnings per share for the current fiscal year.
Sony Group Company Profile
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Free Report)
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.
Further Reading
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