Sony Group (NYSE:SONY) Reaches New 52-Week High - Here's What Happened

Sony Group Co. (NYSE:SONY - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $26.60 and last traded at $26.54, with a volume of 6985507 shares changing hands. The stock had previously closed at $25.53.

Analysts Set New Price Targets

A number of research firms recently issued reports on SONY. Oppenheimer reaffirmed an "outperform" rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Wolfe Research reaffirmed a "peer perform" rating on shares of Sony Group in a report on Monday, April 7th. The Goldman Sachs Group began coverage on Sony Group in a report on Tuesday, March 25th. They issued a "buy" rating for the company. Finally, Wall Street Zen cut Sony Group from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Group Price Performance

The stock has a fifty day moving average of $24.54 and a 200-day moving average of $22.81. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $159.48 billion, a P/E ratio of 21.40, a PEG ratio of 9.95 and a beta of 0.97.

Institutional Trading of Sony Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares during the last quarter. Aristotle Capital Management LLC raised its holdings in Sony Group by 393.7% during the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company's stock worth $1,116,653,000 after purchasing an additional 42,083,842 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the last quarter. Bank of America Corp DE raised its holdings in Sony Group 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 during the last quarter. Finally, Fiduciary Management Inc. WI raised its holdings in Sony Group by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock worth $218,382,000 after purchasing an additional 8,157,776 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

About Sony Group

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.