Sumitomo Mitsui Trust Group Inc. Has $17.31 Million Holdings in Sony Corporation $SONY

Sumitomo Mitsui Trust Group Inc. cut its position in Sony Corporation (NYSE:SONY) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 665,130 shares of the company’s stock after selling 61,613 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Sony were worth $17,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in Sony during the 1st quarter worth about $78,905,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Sony by 4,056.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company’s stock valued at $50,269,000 after purchasing an additional 1,926,156 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Sony by 702.4% in the 1st quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company’s stock valued at $33,472,000 after purchasing an additional 1,154,010 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sony by 124.5% in the 1st quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company’s stock valued at $52,814,000 after purchasing an additional 1,142,849 shares during the last quarter. Finally, Todd Asset Management LLC boosted its stake in shares of Sony by 59.2% in the 1st quarter. Todd Asset Management LLC now owns 1,515,899 shares of the company’s stock valued at $38,489,000 after purchasing an additional 563,802 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Stock Performance

Shares of SONY stock opened at $28.17 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market capitalization of $170.33 billion, a P/E ratio of 22.35 and a beta of 0.95. The company’s 50 day moving average price is $28.75 and its two-hundred day moving average price is $26.59. Sony Corporation has a 52 week low of $17.56 and a 52 week high of $30.28.

Sony (NYSE:SONY) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The company had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. During the same period last year, the company earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. On average, analysts expect that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SONY has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Zacks Research raised shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Cfra Research raised shares of Sony to a “moderate buy” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.00.

About Sony

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.