Pitcairn Co. Has $3.53 Million Holdings in Sony Group Co. (NYSE:SONY)

Pitcairn Co. boosted its stake in Sony Group Co. (NYSE:SONY) by 445.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,692 shares of the company’s stock after purchasing an additional 136,156 shares during the quarter. Pitcairn Co.’s holdings in Sony Group were worth $3,527,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SONY. Primecap Management Co. CA increased its stake in shares of Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after acquiring an additional 80,724,932 shares during the last quarter. Fisher Asset Management LLC increased its stake in Sony Group by 425.9% in the fourth 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 in the last quarter. Mondrian Investment Partners LTD raised its holdings in Sony Group by 358.2% in the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock worth $223,039,000 after purchasing an additional 7,925,643 shares during the period. Clearbridge Investments LLC boosted its position in shares of Sony Group by 383.5% during the fourth quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock worth $125,477,000 after purchasing an additional 4,703,571 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Sony Group by 362.7% in the 4th quarter. Sei Investments Co. now owns 3,245,587 shares of the company’s stock valued at $68,677,000 after buying an additional 2,544,193 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Down 1.2 %

SONY stock opened at $24.87 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock has a market capitalization of $150.41 billion, a P/E ratio of 20.19, a P/E/G ratio of 9.95 and a beta of 0.91. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78. The business has a 50-day moving average of $23.84 and a 200-day moving average of $20.06.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share 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%. On average, sell-side analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SONY. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. The Goldman Sachs Group assumed coverage on Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average 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.