Sit Investment Associates Inc. Grows Stock Holdings in Sony Group Co. (NYSE:SONY)

Sit Investment Associates Inc. lifted its holdings in shares of Sony Group Co. (NYSE:SONY) by 400.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,000 shares of the company’s stock after acquiring an additional 201,600 shares during the quarter. Sit Investment Associates Inc.’s holdings in Sony Group were worth $5,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SONY. Coldstream Capital Management Inc. lifted its stake in shares of Sony Group by 23.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock worth $352,000 after purchasing an additional 751 shares in the last quarter. FCA Corp TX raised its stake in shares of Sony Group by 22.5% during the fourth quarter. FCA Corp TX now owns 4,900 shares of the company’s stock valued at $104,000 after purchasing an additional 900 shares during the period. Silicon Valley Capital Partners lifted its holdings in Sony Group by 401.3% in the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after buying an additional 927 shares in the last quarter. Fairscale Capital LLC lifted its stake in shares of Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after acquiring an additional 992 shares in the last quarter. Finally, General Partner Inc. grew its stake in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SONY has been the topic of a number of recent analyst reports. Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating on the stock. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Down 6.7 %

Shares of NYSE:SONY opened at $21.81 on Friday. The company’s fifty day moving average is $23.90 and its two-hundred day moving average is $20.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.78. The stock has a market capitalization of $131.90 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Equities analysts anticipate that Sony Group Co. will post 1.23 EPS for the current year.

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.