Sunpointe LLC Takes Position in Sony Group Co. (NYSE:SONY)

Sunpointe LLC acquired a new stake in Sony Group Co. (NYSE:SONY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,485 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Y.D. More Investments Ltd increased its stake in shares of Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock valued at $763,000 after purchasing an additional 28,852 shares in the last quarter. Bfsg LLC purchased a new position in shares of Sony Group in the 4th quarter valued at about $6,125,000. Fifth Third Bancorp increased its stake in shares of Sony Group by 311.3% in the 4th quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock valued at $3,337,000 after purchasing an additional 119,362 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Sony Group by 430.0% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after purchasing an additional 32,725 shares in the last quarter. Finally, One Wealth Advisors LLC increased its stake in shares of Sony Group by 400.9% in the 4th quarter. One Wealth Advisors LLC now owns 34,475 shares of the company’s stock valued at $729,000 after purchasing an additional 27,593 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SONY. StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, Oppenheimer reiterated 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. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Price Performance

SONY stock opened at $24.93 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The business has a 50 day simple moving average of $21.68 and a 200-day simple moving average of $15.71. The firm has a market capitalization of $150.74 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 9.90 and a beta of 0.96. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $24.95.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Equities research analysts anticipate that Sony Group Co. will post 1.22 earnings per share for the current fiscal year.

Sony Group Company 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.