FIL Ltd Takes Position in Sony Group Co. (NYSE:SONY)

FIL Ltd bought a new position in Sony Group Co. (NYSE:SONY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,696 shares of the company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners increased its position in shares of Sony Group by 401.3% in the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock valued at $25,000 after acquiring an additional 927 shares during the period. General Partner Inc. raised its position in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Sony Group in the 4th quarter worth approximately $26,000. Fairscale Capital LLC grew its position in shares of Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after buying an additional 992 shares during the last quarter. Finally, Accent Capital Management LLC grew its position 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 buying an additional 1,104 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors.

Sony Group Stock Up 2.1 %

Shares of Sony Group stock opened at $23.43 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 market cap of $141.70 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 9.95 and a beta of 0.94. The company has a 50-day moving average of $23.95 and a 200 day moving average of $21.36. 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 announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. As a group, sell-side analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SONY. The Goldman Sachs Group initiated coverage on Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating for the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two research 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.