New York State Common Retirement Fund Has $11.45 Million Position in Sony Group Co. (NYSE:SONY)

New York State Common Retirement Fund boosted its stake in shares of Sony Group Co. (NYSE:SONY) by 400.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 541,000 shares of the company’s stock after acquiring an additional 432,895 shares during the period. New York State Common Retirement Fund’s holdings in Sony Group were worth $11,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SONY. International Assets Investment Management LLC bought a new stake in shares of Sony Group during the 3rd quarter worth approximately $1,418,000. Wealth Enhancement Advisory Services LLC lifted its stake in Sony Group by 68.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,214 shares of the company’s stock worth $1,855,000 after purchasing an additional 7,781 shares during the last quarter. Diversify Advisory Services LLC increased its stake in shares of Sony Group by 348.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 19,214 shares of the company’s stock valued at $1,855,000 after purchasing an additional 14,930 shares during the last quarter. Diversify Wealth Management LLC increased its stake in shares of Sony Group by 511.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock valued at $4,867,000 after purchasing an additional 42,156 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Sony Group by 9.8% during the 3rd quarter. US Bancorp DE now owns 127,457 shares of the company’s stock worth $12,309,000 after buying an additional 11,375 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Trading Up 0.1 %

Shares of SONY stock opened at $24.82 on Tuesday. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.29. The stock’s fifty day simple moving average is $21.81 and its 200 day simple moving average is $16.19. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $150.07 billion, a P/E ratio of 20.14, a P/E/G ratio of 9.95 and a beta of 0.96.

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 the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The company had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. As a group, sell-side analysts predict that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SONY shares. Oppenheimer reiterated an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $28.00.

Sony Group Company 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.