Bank of New York Mellon Corp Lowers Position in Sony Corporation (NYSE:SONY)

Bank of New York Mellon Corp cut its position in Sony Corporation (NYSE:SONY) by 19.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 650,189 shares of the company’s stock after selling 155,623 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sony were worth $16,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in Sony by 422.0% during the 4th quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock worth $421,000 after buying an additional 16,094 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Sony by 507.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,130 shares of the company’s stock valued at $10,181,000 after acquiring an additional 401,919 shares during the period. Proficio Capital Partners LLC acquired a new position in Sony in the 4th quarter valued at about $329,000. Commonwealth Equity Services LLC increased its position in Sony by 402.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 135,105 shares of the company’s stock worth $2,859,000 after purchasing an additional 108,229 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in Sony during the 4th quarter worth approximately $2,469,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SONY. The Goldman Sachs Group assumed coverage on Sony in a research note on Tuesday, March 25th. They set a “buy” rating on the stock. Wall Street Zen lowered Sony from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Sony in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.00.

Sony Stock Down 2.0%

Shares of Sony stock opened at $23.93 on Friday. The business has a 50-day moving average of $25.49 and a 200-day moving average of $24.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57. The company has a market capitalization of $144.72 billion, a PE ratio of 19.39, a P/E/G ratio of 11.73 and a beta of 0.94. Sony Corporation has a 1-year low of $15.96 and a 1-year high of $26.95.

Sony 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.