Ridgewood Investments LLC Makes New Investment in Sony Group Co. (NYSE:SONY)

Ridgewood Investments LLC bought a new position in shares of Sony Group Co. (NYSE:SONY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 484 shares of the company’s stock, valued at approximately $41,000.

Other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Sony Group during the second quarter worth $26,000. Sunbelt Securities Inc. acquired a new stake in Sony Group in the 1st quarter worth about $29,000. Rise Advisors LLC boosted its stake in Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after buying an additional 254 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Sony Group in the 4th quarter valued at about $34,000. Finally, Family Firm Inc. acquired a new position in shares of Sony Group in the 2nd quarter valued at about $44,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Performance

NYSE:SONY traded up $0.50 during midday trading on Friday, reaching $97.31. 103,334 shares of the company traded hands, compared to its average volume of 838,804. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. The firm has a market capitalization of $120.10 billion, a price-to-earnings ratio of 17.80 and a beta of 0.94. 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 company has a fifty day moving average price of $88.79 and a 200 day moving average price of $86.06.

Shares of Sony Group are set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be payable to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. On average, analysts expect that Sony Group Co. will post 5.68 EPS for the current fiscal year.

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.