Cibc World Market Inc. Increases Stake in Sony Corporation $SONY

Cibc World Market Inc. raised its holdings in shares of Sony Corporation (NYSE:SONYFree Report) by 39.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,590 shares of the company’s stock after buying an additional 50,406 shares during the quarter. Cibc World Market Inc.’s holdings in Sony were worth $5,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SONY. Fisher Asset Management LLC raised its holdings in Sony by 19.0% in the 2nd quarter. Fisher Asset Management LLC now owns 101,878,066 shares of the company’s stock valued at $2,651,886,000 after acquiring an additional 16,280,542 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Sony by 7,377.3% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,274 shares of the company’s stock valued at $97,145,000 after purchasing an additional 3,329,147 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Sony by 41.6% in the second quarter. Raymond James Financial Inc. now owns 2,482,524 shares of the company’s stock valued at $64,620,000 after purchasing an additional 729,351 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Sony by 16.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,293,819 shares of the company’s stock worth $65,924,000 after buying an additional 320,181 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Sony by 15.0% during the second quarter. American Century Companies Inc. now owns 1,858,451 shares of the company’s stock worth $48,375,000 after buying an additional 242,748 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Key Sony News

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Sony Price Performance

Shares of SONY opened at $23.18 on Friday. The firm has a 50-day simple moving average of $24.50 and a two-hundred day simple moving average of $26.99. The stock has a market cap of $140.18 billion, a PE ratio of -115.89, a P/E/G ratio of 8.37 and a beta of 0.97. Sony Corporation has a 1-year low of $20.42 and a 1-year high of $30.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.97.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings cut shares of Sony from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Wall Street Zen raised shares of Sony to a “hold” rating in a research note on Saturday, December 6th. Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, November 5th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $30.00 price target (down previously from $33.00) on shares of Sony in a research report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

View Our Latest Stock Report on SONY

Sony Profile

(Free Report)

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

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Institutional Ownership by Quarter for Sony (NYSE:SONY)

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