Sony Group Co. (NYSE:SONY) Holdings Boosted by Summitry LLC

Summitry LLC grew its holdings in Sony Group Co. (NYSE:SONY) by 512.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,774 shares of the company’s stock after purchasing an additional 14,036 shares during the period. Summitry LLC’s holdings in Sony Group were worth $355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SONY. Y.D. More Investments Ltd lifted its stake in Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after acquiring an additional 28,852 shares in the last quarter. Bfsg LLC purchased a new stake in shares of Sony Group in the fourth quarter worth approximately $6,125,000. Fifth Third Bancorp boosted its holdings in shares of Sony Group by 311.3% during the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after purchasing an additional 119,362 shares during the period. West Family Investments Inc. grew its position in Sony Group by 392.9% during the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company’s stock valued at $566,000 after purchasing an additional 21,303 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in Sony Group by 430.0% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after buying an additional 32,725 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

NYSE SONY opened at $25.24 on Wednesday. The firm has a market cap of $152.64 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The stock’s 50-day moving average is $23.28 and its two-hundred day moving average is $19.26. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Sony Group (NYSE:SONY) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The firm had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. On average, analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SONY has been the subject of a number of research reports. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. The Goldman Sachs Group began coverage on Sony Group in a report on Tuesday. They set a “buy” rating for the company. Finally, Sanford C. Bernstein began coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $28.00.

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.