Mondrian Investment Partners LTD Decreases Stock Holdings in Sony Group Co. (NYSE:SONY)

Mondrian Investment Partners LTD lowered its stake in Sony Group Co. (NYSE:SONY) by 12.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,233,340 shares of the company’s stock after selling 325,187 shares during the period. Sony Group makes up 3.2% of Mondrian Investment Partners LTD’s holdings, making the stock its 5th biggest holding. Mondrian Investment Partners LTD owned 0.18% of Sony Group worth $198,767,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SONY. Harding Loevner LP boosted its stake in Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after buying an additional 2,181,169 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock valued at $602,106,000 after buying an additional 341,566 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Sony Group by 26.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock valued at $127,338,000 after buying an additional 277,537 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Sony Group in the second quarter valued at about $18,567,000. Finally, Pictet North America Advisors SA acquired a new stake in Sony Group in the first quarter valued at about $18,702,000. Institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Sony Group Stock Down 2.7 %

Sony Group stock opened at $90.58 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. Sony Group Co. has a 12-month low of $75.11 and a 12-month high of $100.88. The firm’s fifty day moving average is $91.09 and its 200 day moving average is $86.45. The company has a market capitalization of $111.80 billion, a PE ratio of 16.65 and a beta of 0.95.

Sony Group shares are scheduled to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be distributed to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The business had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. As a group, sell-side analysts predict that Sony Group Co. will post 5.63 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.