Brokerages Set Sony Group Co. (NYSE:SONY) Price Target at $108.00

Sony Group Co. (NYSE:SONY) has earned an average recommendation of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $108.00.

Separately, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

Sony Group Stock Performance

Shares of SONY stock opened at $93.06 on Thursday. The stock has a market capitalization of $114.86 billion, a PE ratio of 17.11 and a beta of 0.95. Sony Group has a 52-week low of $75.11 and a 52-week high of $100.88. The stock’s 50-day moving average price is $91.09 and its 200 day moving average price is $86.43. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26.

Shares of Sony Group are set to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. As a group, equities research analysts forecast that Sony Group will post 5.63 EPS for the current year.

Institutional Trading of Sony Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock valued at $602,106,000 after purchasing an additional 341,566 shares in the last quarter. Mondrian Investment Partners LTD grew its stake in shares of Sony Group by 43.4% during the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after acquiring an additional 774,502 shares in the last quarter. Harding Loevner LP grew its stake in shares of Sony Group by 2,206.6% during the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after acquiring an additional 2,181,169 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Sony Group by 1.2% during the first quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company’s stock valued at $138,635,000 after acquiring an additional 18,487 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Sony Group by 26.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock valued at $127,338,000 after acquiring an additional 277,537 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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.