Sony Group Co. (NYSE:SONY) Shares Purchased by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. boosted its position in Sony Group Co. (NYSE:SONY) by 400.0% in the 4th quarter, Holdings Channel reports. The firm owned 10,695 shares of the company’s stock after acquiring an additional 8,556 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Sony Group were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after purchasing an additional 36,783,737 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Sony Group in the 4th quarter valued at $36,964,000. Cardinal Capital Management Inc. increased its stake in shares of Sony Group by 403.7% in the 4th quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after acquiring an additional 1,287,259 shares during the last quarter. Cambiar Investors LLC increased its stake in shares of Sony Group by 548.9% in the 4th quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock worth $22,414,000 after acquiring an additional 896,013 shares during the last quarter. Finally, Pictet North America Advisors SA increased its stake in shares of Sony Group by 333.4% in the 4th quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company’s stock worth $22,375,000 after acquiring an additional 813,429 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Up 3.0 %

Shares of NYSE:SONY opened at $23.65 on Thursday. The business has a 50-day moving average price of $22.56 and a 200 day moving average price of $17.84. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $143.00 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.64.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SONY shares. Sanford C. Bernstein started coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $28.00.

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.