Keel Point LLC Sells 24,495 Shares of Sony Corporation $SONY

Keel Point LLC decreased its stake in shares of Sony Corporation (NYSE:SONY) by 69.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,880 shares of the company’s stock after selling 24,495 shares during the quarter. Keel Point LLC’s holdings in Sony were worth $225,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SONY. Fisher Asset Management LLC grew its position in Sony by 4.1% during the fourth quarter. Fisher Asset Management LLC now owns 108,981,588 shares of the company’s stock worth $2,789,929,000 after buying an additional 4,337,062 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Sony by 9.1% in the 1st quarter. Bank of America Corp DE now owns 16,992,579 shares of the company’s stock worth $351,746,000 after acquiring an additional 1,413,785 shares during the period. Capital International Investors grew its holdings in shares of Sony by 23.1% during the 4th quarter. Capital International Investors now owns 7,446,889 shares of the company’s stock worth $191,534,000 after purchasing an additional 1,397,271 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Sony by 10.7% during the 4th quarter. Royal Bank of Canada now owns 6,778,922 shares of the company’s stock worth $173,539,000 after purchasing an additional 657,655 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Sony by 1.5% during the fourth quarter. Capital World Investors now owns 5,076,516 shares of the company’s stock valued at $129,973,000 after purchasing an additional 74,768 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

SONY has been the subject of a number of recent research reports. Benchmark restated a “buy” rating on shares of Sony in a research note on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Sony from a “hold” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.00.

Sony Stock Down 1.1%

NYSE SONY opened at $22.39 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $21.19 and its two-hundred day moving average is $21.51. The company has a market capitalization of $132.29 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.80 and a beta of 0.92. Sony Corporation has a 1-year low of $19.32 and a 1-year high of $30.34.

Sony (NYSE:SONY) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. Sony had a positive return on equity of 13.06% and a negative net margin of 2.00%.The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.17 billion. During the same period in the prior year, the company posted $42.84 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that Sony Corporation will post 1.28 earnings per share for the current fiscal year.

Key Sony News

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony Pictures’ Spider-Man: Brand New Day is expanding into IMAX theaters across North America after generating $23 million in IMAX sales in China, Japan and South Korea. The film’s $19 million IMAX opening in China was the franchise’s best, providing a potential boost to Pictures revenue and licensing. Spider-Man Brand New Day IMAX expansion
• Positive Sentiment: Sony Electronics introduced the FE 100-400mm F5.6-8 OSS super-telephoto zoom lens. The new camera product broadens Sony’s interchangeable-lens lineup and could support its imaging business, although the lens is aimed primarily at hobbyists and is described as relatively slow. Sony FE 100-400mm lens launch
• Neutral Sentiment: New colors for the WH-1000XM6 headphones, discounts on older XM5 headphones, and promotions for LinkBuds and Inzone monitors increase consumer visibility but are unlikely to materially change Sony’s financial outlook in the near term. Sony headphone product updates
• Negative Sentiment: Sony executives acknowledged that the company’s Venom-related shared Spider-Man universe did not satisfy audiences and indicated that additional Spider-Man spin-offs are uncertain or being canceled. That raises concerns about franchise execution and the consistency of Sony Pictures’ film pipeline. Sony Spider-Man spin-off strategy
• Negative Sentiment: Sony Pictures’ inability to release the Brad Pitt-led Cliff Booth spinoff exclusively in theaters because of a Netflix-related arrangement highlights ongoing challenges in controlling distribution and maximizing theatrical revenue. Cliff Booth spinoff Netflix deal

Insiders Place Their Bets

In other Sony news, insider Tsuyoshi Kodera sold 51,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total transaction of $1,047,540.00. Following the completion of the transaction, the insider directly owned 27,553 shares in the company, valued at $565,938.62. This represents a 64.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hiroki Totoki sold 225,000 shares of Sony stock in a transaction on Friday, July 3rd. The shares were sold at an average price of $21.02, for a total value of $4,729,500.00. Following the transaction, the chief executive officer directly owned 173,250 shares of the company’s stock, valued at approximately $3,641,715. The trade was a 56.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 771,838 shares of company stock worth $16,866,580 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

Sony Company Profile

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.