Sony Group Co. (NYSE:SONY) Shares Bought by Renaissance Group LLC

Renaissance Group LLC lifted its stake in Sony Group Co. (NYSE:SONY) by 456.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,646 shares of the company’s stock after buying an additional 275,306 shares during the period. Renaissance Group LLC’s holdings in Sony Group were worth $7,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FIL Ltd purchased a new stake in shares of Sony Group in the 4th quarter valued at about $99,000. Canopy Partners LLC lifted its stake in Sony Group by 403.5% in the fourth quarter. Canopy Partners LLC now owns 11,405 shares of the company’s stock valued at $241,000 after buying an additional 9,140 shares during the last quarter. Rathbones Group PLC grew its position in shares of Sony Group by 378.1% during the fourth quarter. Rathbones Group PLC now owns 171,752 shares of the company’s stock worth $3,634,000 after acquiring an additional 135,828 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Sony Group by 344.9% in the 4th quarter. Invesco Ltd. now owns 1,186,971 shares of the company’s stock valued at $25,116,000 after acquiring an additional 920,194 shares during the period. Finally, Bank of Montreal Can raised its position in Sony Group by 384.9% in the 4th quarter. Bank of Montreal Can now owns 564,358 shares of the company’s stock valued at $11,942,000 after purchasing an additional 447,967 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SONY shares. The Goldman Sachs Group began coverage on shares of Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. Wolfe Research reissued a “peer perform” rating on shares of Sony Group in a report on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up 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 note on Tuesday, February 25th. Finally, Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Sony Group Price Performance

SONY stock opened at $21.24 on Tuesday. The firm has a 50 day moving average of $23.91 and a 200-day moving average of $20.56. The company has a market cap of $128.44 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 9.95 and a beta of 0.94. 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 $25.78.

Sony Group (NYSE:SONY) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, equities analysts expect that Sony Group Co. will post 1.23 EPS for the current fiscal 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.