Flputnam Investment Management Co. Acquires 18,608 Shares of Sony Group Co. (NYSE:SONY)

Flputnam Investment Management Co. grew its holdings in shares of Sony Group Co. (NYSE:SONY) by 354.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,861 shares of the company’s stock after purchasing an additional 18,608 shares during the period. Flputnam Investment Management Co.’s holdings in Sony Group were worth $505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SONY. Private Trust Co. NA raised its stake in Sony Group by 474.7% in the fourth quarter. Private Trust Co. NA now owns 3,655 shares of the company’s stock valued at $77,000 after purchasing an additional 3,019 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Sony Group by 1,612.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,832 shares of the company’s stock worth $39,000 after buying an additional 1,725 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of Sony Group by 563.4% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 28,425 shares of the company’s stock valued at $601,000 after buying an additional 24,140 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Sony Group by 485.3% during the 4th quarter. QRG Capital Management Inc. now owns 431,138 shares of the company’s stock worth $9,123,000 after acquiring an additional 357,475 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Sony Group in the fourth quarter worth $329,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $28.00.

Sony Group Stock Performance

NYSE SONY opened at $24.59 on Tuesday. The company has a 50-day simple moving average of $22.20 and a two-hundred day simple moving average of $16.94. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.64. The firm has a market cap of $148.71 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 9.95 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share 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 company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. On average, equities analysts forecast that Sony Group Co. will post 1.23 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.