Sony Group Co. (NYSE:SONY) Shares Sold by SouthState Corp

SouthState Corp reduced its holdings in Sony Group Co. (NYSE:SONY) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 138,634 shares of the company’s stock after selling 854 shares during the quarter. Sony Group comprises 1.1% of SouthState Corp’s portfolio, making the stock its 26th largest holding. SouthState Corp’s holdings in Sony Group were worth $13,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Natixis Advisors L.P. raised its holdings in shares of Sony Group by 77.6% during the fourth quarter. Natixis Advisors L.P. now owns 315,680 shares of the company’s stock worth $29,891,000 after acquiring an additional 137,963 shares in the last quarter. First Horizon Advisors Inc. grew its position in Sony Group by 9.5% during the 4th quarter. First Horizon Advisors Inc. now owns 3,759 shares of the company’s stock worth $356,000 after acquiring an additional 327 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Sony Group by 5.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after buying an additional 342,025 shares in the last quarter. Heritage Wealth Management LLC bought a new stake in shares of Sony Group in the 4th quarter valued at $917,000. Finally, FFT Wealth Management LLC grew its holdings in shares of Sony Group by 6.0% during the fourth quarter. FFT Wealth Management LLC now owns 2,871 shares of the company’s stock worth $272,000 after buying an additional 163 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SONY has been the subject of several research analyst reports. Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer restated an “outperform” rating and set a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Performance

Shares of SONY stock traded up $1.19 during mid-day trading on Thursday, reaching $84.08. 656,960 shares of the company’s stock traded hands, compared to its average volume of 761,194. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69. Sony Group Co. has a 12 month low of $79.62 and a 12 month high of $100.94. The firm has a 50 day moving average price of $85.40 and a two-hundred day moving average price of $88.82. The firm has a market capitalization of $103.77 billion, a PE ratio of 16.23 and a beta of 0.95.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. The company had revenue of $25.38 billion for the quarter, compared to analyst estimates of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. On average, research analysts forecast that Sony Group Co. will post 5.22 EPS for the current 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.