Sony Group Co. (NYSE:SONY) Stake Decreased by Nixon Capital LLC

Nixon Capital LLC lessened its holdings in shares of Sony Group Co. (NYSE:SONY) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,738 shares of the company’s stock after selling 1,107 shares during the period. Sony Group accounts for approximately 8.2% of Nixon Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Nixon Capital LLC’s holdings in Sony Group were worth $18,250,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Fisher Asset Management LLC grew its holdings in shares of Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after purchasing an additional 342,025 shares during the period. Morgan Stanley grew its holdings in shares of Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after purchasing an additional 15,415 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Sony Group by 26.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock valued at $127,338,000 after purchasing an additional 277,537 shares during the period. Royal Bank of Canada lifted its position in Sony Group by 1.0% in the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock valued at $99,987,000 after buying an additional 12,467 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Sony Group by 7.1% in the fourth quarter. Sei Investments Co. now owns 564,133 shares of the company’s stock valued at $53,418,000 after buying an additional 37,268 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a research report on Monday, February 26th. Finally, Macquarie cut shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Sony Group currently has an average rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Down 2.0 %

Shares of SONY traded down $1.78 during mid-day trading on Friday, hitting $85.45. 447,674 shares of the company’s stock were exchanged, compared to its average volume of 1,052,227. The company has a market cap of $105.46 billion, a price-to-earnings ratio of 15.71 and a beta of 0.95. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.52 and a current ratio of 0.66. The stock’s 50-day moving average is $82.60 and its 200-day moving average is $88.27.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. The business had revenue of $23.45 billion for the quarter, compared to analysts’ expectations of $18.97 billion. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, sell-side analysts anticipate that Sony Group Co. will post 5.61 earnings per share for the current fiscal year.

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.