Crossmark Global Holdings Inc. Reduces Stock Position in Sony Group Co. (NYSE:SONY)

Crossmark Global Holdings Inc. lessened its position in shares of Sony Group Co. (NYSE:SONY) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,308 shares of the company’s stock after selling 3,013 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Sony Group were worth $6,312,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in Sony Group by 5.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after purchasing an additional 342,025 shares during the last quarter. Mondrian Investment Partners LTD grew its stake in Sony Group by 43.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after purchasing an additional 774,502 shares during the last quarter. Harding Loevner LP boosted its stake in shares of Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after buying an additional 2,181,169 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Sony Group by 1.2% in the first quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company’s stock worth $138,635,000 after buying an additional 18,487 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Sony Group by 26.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after buying an additional 277,537 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

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

Sony Group Price Performance

NYSE SONY traded up $0.73 during trading hours on Friday, reaching $97.54. The company’s stock had a trading volume of 400,863 shares, compared to its average volume of 840,572. The firm has a market capitalization of $120.39 billion, a price-to-earnings ratio of 17.93 and a beta of 0.94. 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 company’s 50-day moving average is $88.79 and its two-hundred day moving average is $86.06.

Sony Group shares are going to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, equities analysts predict that Sony Group Co. will post 5.68 EPS for the current 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.