Sony Group Co. (NYSE:SONY) Stock Position Increased by Foresight Global Investors Inc.

Foresight Global Investors Inc. grew its position in Sony Group Co. (NYSE:SONY) by 12.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 271,199 shares of the company’s stock after acquiring an additional 29,881 shares during the period. Sony Group comprises approximately 11.1% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 2nd biggest position. Foresight Global Investors Inc.’s holdings in Sony Group were worth $23,038,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. lifted its holdings in Sony Group by 16.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 786 shares of the company’s stock valued at $74,000 after purchasing an additional 112 shares in the last quarter. American National Bank boosted its position in Sony Group by 11.3% during the second quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Sony Group by 1.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock worth $735,000 after acquiring an additional 124 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Sony Group by 20.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock valued at $64,000 after acquiring an additional 128 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in Sony Group by 1.4% in the 2nd quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after acquiring an additional 128 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sony Group currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Stock Performance

NYSE:SONY opened at $93.06 on Tuesday. The company’s 50-day moving average is $91.09 and its two-hundred day moving average is $86.43. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The firm has a market capitalization of $114.86 billion, a price-to-earnings ratio of 17.11 and a beta of 0.95.

Sony Group shares are set to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be issued to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Analysts forecast that Sony Group Co. will post 5.63 EPS for the current year.

About Sony Group

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.