Fiduciary Trust Co Boosts Position in Sony Group Co. (NYSE:SONY)

Fiduciary Trust Co raised its stake in Sony Group Co. (NYSE:SONY) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,965 shares of the company’s stock after buying an additional 585 shares during the period. Fiduciary Trust Co’s holdings in Sony Group were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new position in Sony Group during the 3rd quarter worth about $109,462,000. Fisher Asset Management LLC lifted its position in shares of Sony Group by 12.7% in the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock worth $834,013,000 after purchasing an additional 972,075 shares during the period. Marshall Wace LLP boosted its stake in shares of Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after purchasing an additional 838,543 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Sony Group during the second quarter valued at approximately $18,567,000. Finally, Alight Capital Management LP purchased a new stake in Sony Group during the second quarter worth $12,742,000. 14.05% of the stock is currently owned by institutional investors.

Sony Group Price Performance

Shares of SONY stock opened at $20.05 on Friday. The firm has a market capitalization of $121.26 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 12.52 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The stock’s 50-day simple moving average is $17.19 and its 200-day simple moving average is $8.29. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $20.67.

Wall Street Analysts Forecast Growth

SONY has been the topic of a number of analyst reports. StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. TD Cowen reduced their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Oppenheimer lowered their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $24.00.

Sony Group 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.