Scharf Investments LLC Boosts Holdings in Sony Group Co. (NYSE:SONY)

Scharf Investments LLC grew its position in shares of Sony Group Co. (NYSE:SONY) by 3.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,323 shares of the company’s stock after purchasing an additional 680 shares during the period. Scharf Investments LLC’s holdings in Sony Group were worth $1,571,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sony Group during the third quarter worth approximately $193,000. Acadian Asset Management LLC acquired a new stake in shares of Sony Group during the third quarter worth approximately $169,000. LPL Financial LLC grew its position in shares of Sony Group by 37.4% during the third quarter. LPL Financial LLC now owns 100,376 shares of the company’s stock worth $8,272,000 after buying an additional 27,328 shares in the last quarter. Mariner LLC grew its position in shares of Sony Group by 2.6% during the third quarter. Mariner LLC now owns 38,236 shares of the company’s stock worth $3,151,000 after buying an additional 956 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Sony Group by 0.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 60,371 shares of the company’s stock worth $4,975,000 after buying an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

Sony Group stock traded up $1.42 during mid-day trading on Thursday, reaching $84.28. The company’s stock had a trading volume of 802,085 shares, compared to its average volume of 847,351. The firm has a market cap of $104.02 billion, a price-to-earnings ratio of 15.23 and a beta of 0.95. The business has a 50 day moving average price of $82.09 and a 200-day moving average price of $87.83. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 0.27. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88.

Sony Group (NYSE:SONY) last posted its earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The company had revenue of $23.45 billion for the quarter, compared to analysts’ expectations of $18.97 billion. Sony Group had a return on equity of 13.05% and a net margin of 7.95%. During the same period last year, the business posted $0.78 earnings per share. Sell-side analysts predict that Sony Group Co. will post 5.6 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.00.

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.