Pekin Hardy Strauss Inc. Reduces Stock Holdings in Sony Group Co. (NYSE:SONY)

Pekin Hardy Strauss Inc. cut its holdings in Sony Group Co. (NYSE:SONY) by 5.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 78,894 shares of the company’s stock after selling 4,666 shares during the quarter. Sony Group makes up about 1.0% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 20th largest position. Pekin Hardy Strauss Inc.’s holdings in Sony Group were worth $7,470,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. CVA Family Office LLC purchased a new position in Sony Group during the fourth quarter worth about $27,000. Fortitude Family Office LLC acquired a new stake in shares of Sony Group in the fourth quarter worth approximately $31,000. Pinnacle Bancorp Inc. acquired a new position in Sony Group during the fourth quarter worth approximately $39,000. NBC Securities Inc. acquired a new position in shares of Sony Group in the 3rd quarter valued at $51,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of Sony Group during the 3rd quarter worth $73,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Performance

NYSE:SONY traded down $0.42 during trading hours on Tuesday, reaching $82.57. 463,995 shares of the stock were exchanged, compared to its average volume of 766,256. The stock has a market capitalization of $101.91 billion, a P/E ratio of 16.02 and a beta of 0.98. The firm has a 50 day simple moving average of $85.58 and a 200-day simple moving average of $88.88. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 52 week low of $79.62 and a 52 week high of $100.94.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The company had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $24.31 billion. As a group, sell-side analysts forecast that Sony Group Co. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SONY. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Oppenheimer reiterated 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 shares of Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sony Group presently has an average rating of “Moderate Buy” and a consensus price target 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.