Minneapolis Portfolio Management Group LLC lessened its holdings in Sony Group Co. (NYSE:SONY – Get Rating) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 390,337 shares of the company’s stock after selling 7,733 shares during the period. Sony Group makes up approximately 4.2% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 13th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Sony Group were worth $25,001,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CoreCap Advisors LLC bought a new stake in shares of Sony Group in the 2nd quarter worth approximately $25,000. Motco bought a new stake in shares of Sony Group in the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC raised its holdings in shares of Sony Group by 96.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 588 shares of the company’s stock worth $48,000 after purchasing an additional 288 shares during the period. Private Trust Co. NA bought a new stake in shares of Sony Group in the 2nd quarter worth approximately $51,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of Sony Group in the 1st quarter worth approximately $61,000. Hedge funds and other institutional investors own 7.74% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a report on Monday, December 5th. Cowen cut their target price on shares of Sony Group from $144.00 to $102.00 in a research report on Wednesday, November 2nd. Cowen cut their target price on shares of Sony Group from $144.00 to $102.00 in a research report on Wednesday, November 2nd. Finally, StockNews.com initiated coverage on Sony Group in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $109.67.
Sony Group Stock Up 1.3 %
SONY traded up $1.16 on Friday, hitting $90.29. The company had a trading volume of 319,413 shares, compared to its average volume of 723,912. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.58 and a quick ratio of 0.43. Sony Group Co. has a 52-week low of $61.72 and a 52-week high of $119.00. The stock has a fifty day simple moving average of $81.43 and a 200-day simple moving average of $78.22. The firm has a market capitalization of $111.69 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.95 and a beta of 1.00.
Sony Group (NYSE:SONY – Get Rating) last released its earnings results on Tuesday, November 1st. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.47. Sony Group had a net margin of 9.05% and a return on equity of 12.23%. The firm had revenue of $19.93 billion during the quarter, compared to analyst estimates of $21.17 billion. As a group, equities analysts expect that Sony Group Co. will post 5.27 EPS for the current fiscal year.
Sony Group Profile
Sony Group Corp. engages in the development, design, manufacture, and sale of electronic equipment, instruments, devices, game consoles, and software for consumers, professionals and industrial markets. It operates through the following segments: Game and Network Services, Music, Pictures, Home Entertainment and Sound, Imaging Products and Solutions, Mobile Communications, Semiconductors, Financial Services, and Others.
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