CIBC Private Wealth Group LLC Acquires 1,220,941 Shares of Sony Group Co. (NYSE:SONY)

CIBC Private Wealth Group LLC grew its holdings in shares of Sony Group Co. (NYSE:SONY) by 394.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,530,235 shares of the company’s stock after acquiring an additional 1,220,941 shares during the period. CIBC Private Wealth Group LLC’s holdings in Sony Group were worth $31,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Portland Global Advisors LLC lifted its stake in shares of Sony Group by 366.1% in the fourth quarter. Portland Global Advisors LLC now owns 13,735 shares of the company’s stock worth $291,000 after buying an additional 10,788 shares in the last quarter. Schroder Investment Management Group lifted its position in Sony Group by 385.8% in the 4th quarter. Schroder Investment Management Group now owns 15,544 shares of the company’s stock valued at $330,000 after acquiring an additional 12,344 shares in the last quarter. Allianz SE bought a new position in Sony Group in the 4th quarter valued at approximately $636,000. Accent Capital Management LLC increased its holdings in shares of Sony Group by 400.0% in the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock worth $29,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Intrust Bank NA raised its stake in shares of Sony Group by 431.1% in the fourth quarter. Intrust Bank NA now owns 58,301 shares of the company’s stock worth $1,234,000 after purchasing an additional 47,324 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. The Goldman Sachs Group began coverage on shares of Sony Group in a report on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sony Group currently has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Trading Up 1.4 %

Shares of SONY stock opened at $25.44 on Tuesday. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.78. The firm has a fifty day moving average price of $23.68 and a 200-day moving average price of $19.87. The company has a market cap of $153.82 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 9.95 and a beta of 0.91. 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 released 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 business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. As a group, equities analysts predict 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.