Sony (NYSE:SONY) Hits New 12-Month High - Time to Buy?

Key Points

• Sony's stock price reached a new 52-week high of $29.17, marking a significant increase and last trading at $29.14 with a trading volume of nearly 2.3 million shares.
• Analysts have mixed ratings on the stock, with Wall Street Zen downgrading it from "buy" to "hold," while the overall sentiment remains a "buy" with an average price target of $28.00.
• Recent hedge fund activity has seen increased investments in Sony, with notable stakes acquired by firms like Fisher Asset Management and Royal Bank of Canada, indicating strong institutional interest.

Sony Corporation (NYSE:SONY - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $29.17 and last traded at $29.14, with a volume of 2295976 shares. The stock had previously closed at $28.65.

Analysts Set New Price Targets

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

Sony Trading Up 2.0%

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 $176.65 billion, a price-to-earnings ratio of 23.18 and a beta of 0.94. The firm has a 50 day moving average price of $26.22 and a two-hundred day moving average price of $25.34.

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, topping analysts' consensus estimates of $0.24 by $0.06. The company had revenue of $17.79 billion for the quarter, compared to analyst estimates of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same period in the previous year, the firm earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Sony Corporation will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Sony

A number of hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in Sony by 19.0% in the second quarter. Fisher Asset Management LLC now owns 101,878,066 shares of the company's stock worth $2,651,886,000 after purchasing an additional 16,280,542 shares in the last quarter. Royal Bank of Canada grew 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 buying an additional 4,674,249 shares during the period. Wellington Management Group LLP bought a new stake in shares of Sony in the 1st quarter valued at $78,905,000. Allspring Global Investments Holdings LLC lifted its position in shares of Sony by 4,056.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company's stock valued at $50,269,000 after acquiring an additional 1,926,156 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Sony by 702.4% during the first quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company's stock worth $33,472,000 after acquiring an additional 1,154,010 shares in the last quarter. Institutional investors own 14.05% of the company's stock.

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.

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