Fisher Asset Management LLC Increases Stock Holdings in Sony Group Co. (NYSE:SONY)

Fisher Asset Management LLC raised its stake in Sony Group Co. (NYSE:SONY) by 425.9% during the 4th quarter, HoldingsChannel reports. The firm owned 45,420,092 shares of the company’s stock after acquiring an additional 36,783,737 shares during the period. Fisher Asset Management LLC’s holdings in Sony Group were worth $961,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fiduciary Trust Co boosted its position in Sony Group by 13.4% during the third quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock worth $479,000 after purchasing an additional 585 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Sony Group by 14.9% during the third quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock worth $447,000 after purchasing an additional 599 shares in the last quarter. West Family Investments Inc. boosted its position in Sony Group by 13.0% during the third quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock worth $524,000 after purchasing an additional 623 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock worth $134,000 after purchasing an additional 716 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Sony Group by 23.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock worth $352,000 after acquiring an additional 751 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sony Group presently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Performance

NYSE SONY opened at $25.05 on Friday. The stock has a market cap of $151.49 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. The business has a fifty day moving average of $22.13 and a 200-day moving average of $16.61. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.64. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

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

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.