Primecap Management Co. CA Grows Stake in Sony Group Co. (NYSE:SONY)

Primecap Management Co. CA raised its stake in Sony Group Co. (NYSE:SONY) by 379.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,995,855 shares of the company’s stock after purchasing an additional 80,724,932 shares during the quarter. Sony Group comprises about 1.7% of Primecap Management Co. CA’s investment portfolio, making the stock its 17th biggest position. Primecap Management Co. CA owned 1.69% of Sony Group worth $2,158,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Fiduciary Trust Co increased its position in shares of Sony Group by 13.4% during the third quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock worth $479,000 after acquiring an additional 585 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Sony Group by 14.9% during the third quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock worth $447,000 after acquiring an additional 599 shares during the last quarter. West Family Investments Inc. increased its position in shares of Sony Group by 13.0% during the third quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock worth $524,000 after acquiring an additional 623 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock worth $134,000 after acquiring an additional 716 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Sony Group by 23.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock worth $352,000 after acquiring an additional 751 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Price Performance

Shares of NYSE:SONY opened at $24.54 on Tuesday. The stock has a market cap of $148.38 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64. The stock’s 50 day moving average price is $22.74 and its 200 day moving average price is $18.36. 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 quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 company had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. Equities research analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SONY. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $28.00.

Sony Group 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.