Sony Group Co. (NYSE:SONY) Shares Sold by SouthState Corp

SouthState Corp cut its holdings in Sony Group Co. (NYSE:SONY) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 138,634 shares of the company’s stock after selling 854 shares during the period. Sony Group accounts for about 1.1% of SouthState Corp’s portfolio, making the stock its 26th largest holding. SouthState Corp’s holdings in Sony Group were worth $13,127,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SONY. Fisher Asset Management LLC boosted its stake in shares of Sony Group by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after buying an additional 342,025 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of 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 purchasing an additional 299,300 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Sony Group by 77.6% in the 4th quarter. Natixis Advisors L.P. now owns 315,680 shares of the company’s stock valued at $29,891,000 after acquiring an additional 137,963 shares during the period. Alberta Investment Management Corp increased its stake in Sony Group by 30.0% during the 3rd quarter. Alberta Investment Management Corp now owns 260,000 shares of the company’s stock worth $21,427,000 after buying an additional 60,000 shares during the period. Finally, Rovida Advisors Inc. bought a new stake in shares of Sony Group in the 3rd quarter worth about $4,433,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Stock Up 1.4 %

SONY traded up $1.19 during midday trading on Thursday, reaching $84.08. 656,960 shares of the company were exchanged, compared to its average volume of 761,194. Sony Group Co. has a one year low of $79.62 and a one year high of $100.94. The company’s fifty day moving average price is $85.40 and its 200 day moving average price is $88.82. The company has a market cap of $103.77 billion, a price-to-earnings ratio of 16.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.32. The firm had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. As a group, analysts expect that Sony Group Co. will post 5.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on SONY. Macquarie downgraded shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Sony Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Company 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.