Bowen Hanes & Co. Inc. Grows Position in Sony Group Co. (NYSE:SONY)

Bowen Hanes & Co. Inc. increased its holdings in Sony Group Co. (NYSE:SONY) by 400.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,695 shares of the company’s stock after acquiring an additional 8,556 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Sony Group were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SONY. Fisher Asset Management LLC raised its holdings in Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after purchasing an additional 36,783,737 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sony Group during the fourth quarter valued at about $36,964,000. Cardinal Capital Management Inc. increased its holdings in shares of Sony Group by 403.7% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock valued at $33,986,000 after acquiring an additional 1,287,259 shares in the last quarter. Cambiar Investors LLC increased its holdings in shares of Sony Group by 548.9% during the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock valued at $22,414,000 after acquiring an additional 896,013 shares in the last quarter. Finally, XY Capital Ltd increased its holdings in shares of Sony Group by 1,850.5% during the fourth quarter. XY Capital Ltd now owns 920,534 shares of the company’s stock valued at $19,478,000 after acquiring an additional 873,339 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SONY has been the topic of several research reports. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein initiated coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. 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. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Trading Up 3.0 %

Sony Group stock opened at $23.65 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64. The stock’s 50 day simple moving average is $22.56 and its two-hundred day simple moving average is $17.84. The firm has a market cap of $143.00 billion, a PE ratio of 19.19, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS 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 business had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Analysts anticipate that Sony Group Co. will post 1.23 earnings per share 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.