Procyon Advisors LLC Increases Holdings in Sony Group Co. (NYSE:SONY)

Procyon Advisors LLC raised its stake in shares of Sony Group Co. (NYSE:SONY) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,809 shares of the company’s stock after buying an additional 870 shares during the quarter. Procyon Advisors LLC’s holdings in Sony Group were worth $739,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Sony Group by 27.2% in the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock worth $402,598,000 after purchasing an additional 949,271 shares during the last quarter. Morgan Stanley raised its stake in shares of Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock worth $344,629,000 after purchasing an additional 15,415 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Sony Group by 32.8% in the second quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock worth $316,869,000 after acquiring an additional 869,957 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Sony Group by 11.3% in the second quarter. Goldman Sachs Group Inc. now owns 1,283,236 shares of the company’s stock worth $115,543,000 after acquiring an additional 130,410 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Sony Group by 1.0% in the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock worth $99,987,000 after acquiring an additional 12,467 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wolfe Research assumed coverage on Sony Group in a report on Tuesday, December 12th. They issued an “outperform” rating for the company. Macquarie lowered Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. Oppenheimer reissued an “outperform” rating and set a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. StockNews.com raised Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Price Performance

Shares of NYSE SONY traded down $0.43 during mid-day trading on Thursday, reaching $86.11. The company’s stock had a trading volume of 88,190 shares, compared to its average volume of 819,562. The firm has a market capitalization of $106.28 billion, a PE ratio of 16.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.54. The stock has a fifty day moving average of $91.38 and a two-hundred day moving average of $88.90. Sony Group Co. has a 52 week low of $79.62 and a 52 week high of $100.94.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. The firm had revenue of $25.38 billion during 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%. As a group, sell-side analysts anticipate that Sony Group Co. will post 5.19 EPS 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.