1832 Asset Management L.P. Sells 11,984 Shares of Sony Group Co. (NYSE:SONY)

1832 Asset Management L.P. reduced its holdings in Sony Group Co. (NYSE:SONYFree Report) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,885 shares of the company’s stock after selling 11,984 shares during the quarter. 1832 Asset Management L.P.’s holdings in Sony Group were worth $4,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after purchasing an additional 342,025 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Sony Group by 39.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock worth $87,952,000 after buying an additional 299,300 shares in the last quarter. Natixis Advisors L.P. grew its position in Sony Group by 77.6% during the fourth 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 last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Sony Group by 39.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 420,973 shares of the company’s stock worth $39,908,000 after acquiring an additional 118,506 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Sony Group in the 4th quarter valued at $10,193,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SONY shares. Oppenheimer restated an “outperform” rating and set a $108.00 price target on shares of Sony Group in a research report on Monday, February 26th. StockNews.com upgraded Sony Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Finally, Macquarie downgraded 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Read Our Latest Stock Report on SONY

Sony Group Stock Performance

Sony Group stock opened at $85.45 on Friday. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.94. The firm has a market cap of $105.46 billion, a P/E ratio of 15.71 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $82.60 and a 200-day moving average of $88.26.

Sony Group (NYSE:SONYGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. The business had revenue of $23.45 billion during the quarter, compared to analyst estimates of $18.97 billion. During the same period in the prior year, the business earned $0.78 EPS. Sell-side analysts expect that Sony Group Co. will post 5.61 EPS for the current year.

About Sony Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sony Group (NYSE:SONY)

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