Sony Group Co. (NYSE:SONY) Stake Boosted by Primecap Management Co. CA

Primecap Management Co. CA grew its stake in shares of Sony Group Co. (NYSE:SONY) by 379.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,995,855 shares of the company’s stock after acquiring an additional 80,724,932 shares during the period. Sony Group accounts for 1.7% of Primecap Management Co. CA’s investment portfolio, making the stock its 17th biggest holding. Primecap Management Co. CA’s holdings in Sony Group were worth $2,158,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SONY. Silicon Valley Capital Partners grew its holdings in shares of Sony Group by 401.3% during the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock valued at $25,000 after acquiring an additional 927 shares in the last quarter. General Partner Inc. increased its position in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 996 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Sony Group during the fourth quarter worth $26,000. Fairscale Capital LLC increased its position in Sony Group by 400.0% during the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after buying an additional 992 shares during the last quarter. Finally, Hilltop National Bank increased its position in Sony Group by 346.3% during the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock worth $32,000 after buying an additional 1,174 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Up 1.8 %

SONY stock opened at $24.54 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.64. The company has a 50-day moving average of $22.74 and a two-hundred day moving average of $18.36. The stock has a market capitalization of $148.38 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SONY. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. Finally, Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sony Group has an average rating of “Buy” and a consensus price target of $28.00.

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.