Ninety One North America Inc. Has $563,000 Stock Position in Sony Group Co. (NYSE:SONY)

Ninety One North America Inc. reduced its position in Sony Group Co. (NYSE:SONY) by 5.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,942 shares of the company’s stock after selling 318 shares during the period. Ninety One North America Inc.’s holdings in Sony Group were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SONY. Cetera Advisor Networks LLC grew its stake in shares of Sony Group by 31.8% during the first quarter. Cetera Advisor Networks LLC now owns 4,306 shares of the company’s stock worth $442,000 after purchasing an additional 1,039 shares during the period. BlackRock Inc. grew its stake in shares of Sony Group by 0.8% during the first quarter. BlackRock Inc. now owns 1,510,796 shares of the company’s stock worth $155,174,000 after purchasing an additional 11,272 shares during the period. Cibc World Market Inc. grew its stake in shares of Sony Group by 4.5% during the first quarter. Cibc World Market Inc. now owns 28,862 shares of the company’s stock worth $2,964,000 after purchasing an additional 1,237 shares during the period. Cetera Investment Advisers grew its stake in shares of Sony Group by 12.8% during the first quarter. Cetera Investment Advisers now owns 6,265 shares of the company’s stock worth $643,000 after purchasing an additional 711 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Sony Group by 46.2% during the first quarter. Sequoia Financial Advisors LLC now owns 5,494 shares of the company’s stock worth $564,000 after purchasing an additional 1,736 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SONY. Oppenheimer reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a research note on Monday, February 26th. Macquarie lowered Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Finally, TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Trading Up 0.6 %

SONY stock traded up $0.49 during midday trading on Thursday, hitting $82.07. 239,624 shares of the company’s stock were exchanged, compared to its average volume of 781,407. The stock’s fifty day moving average price is $87.36 and its 200-day moving average price is $88.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69. The company has a market cap of $101.29 billion, a PE ratio of 15.90 and a beta of 0.98. Sony Group Co. has a one year low of $79.62 and a one year high of $100.94.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, beating 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 return on equity of 12.43% and a net margin of 7.62%. Research analysts predict that Sony Group Co. will post 5.21 earnings per share for the current fiscal 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.