Investors Research Corp Grows Stake in Sony Group Co. (NYSE:SONY)

Investors Research Corp raised its stake in Sony Group Co. (NYSE:SONY) by 400.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,820 shares of the company’s stock after acquiring an additional 5,456 shares during the period. Investors Research Corp’s holdings in Sony Group were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SONY. Fisher Asset Management LLC grew its stake in shares of Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after acquiring an additional 36,783,737 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Sony Group during the fourth quarter valued at $36,964,000. Cardinal Capital Management Inc. boosted its position in shares of Sony Group by 403.7% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock valued at $33,986,000 after buying an additional 1,287,259 shares during the last quarter. Cambiar Investors LLC boosted its position in shares of Sony Group by 548.9% during the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock valued at $22,414,000 after buying an additional 896,013 shares during the last quarter. Finally, XY Capital Ltd boosted its position in shares of Sony Group by 1,850.5% during the fourth quarter. XY Capital Ltd now owns 920,534 shares of the company’s stock valued at $19,478,000 after buying an additional 873,339 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SONY. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Trading Down 5.3 %

Sony Group stock opened at $22.87 on Tuesday. The business has a 50-day simple moving average of $22.48 and a two-hundred day simple moving average of $17.66. The company has a market cap of $138.28 billion, a P/E ratio of 18.56, a P/E/G ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.64. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Analysts predict that Sony Group Co. will post 1.23 EPS for the current year.

Sony Group 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.