Primecap Management Co. CA Has $2.05 Billion Stock Position in Sony Group Co. (NYSE:SONY)

Primecap Management Co. CA reduced its holdings in Sony Group Co. (NYSE:SONY) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,270,923 shares of the company’s stock after selling 221,050 shares during the period. Sony Group comprises about 1.5% of Primecap Management Co. CA’s holdings, making the stock its 18th largest holding. Primecap Management Co. CA owned approximately 0.35% of Sony Group worth $2,054,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Sony Group in the second quarter worth $26,000. Ridgewood Investments LLC purchased a new position in Sony Group in the second quarter valued at about $41,000. Family Firm Inc. acquired a new position in Sony Group in the 2nd quarter worth about $44,000. Hobbs Group Advisors LLC acquired a new stake in shares of Sony Group during the 2nd quarter valued at about $49,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Sony Group by 38.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Oppenheimer decreased their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.00.

Sony Group Price Performance

NYSE SONY opened at $19.17 on Thursday. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.67. The company has a fifty day simple moving average of $14.98 and a 200 day simple moving average of $7.49. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market cap of $115.93 billion, a P/E ratio of 15.69, a P/E/G ratio of 11.98 and a beta of 0.95.

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.