Legacy Financial Advisors Inc. Increases Stake in Sony Group Co. (NYSE:SONY)

Legacy Financial Advisors Inc. lifted its holdings in shares of Sony Group Co. (NYSE:SONY) by 622.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,449 shares of the company’s stock after acquiring an additional 38,293 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Sony Group were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Y.D. More Investments Ltd grew its stake in Sony Group by 400.0% during the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock valued at $763,000 after acquiring an additional 28,852 shares in the last quarter. Bfsg LLC purchased a new stake in shares of Sony Group during the fourth quarter valued at $6,125,000. Fifth Third Bancorp increased its position in shares of Sony Group by 311.3% during the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after acquiring an additional 119,362 shares during the period. West Family Investments Inc. raised its position in Sony Group by 392.9% during the 4th quarter. West Family Investments Inc. now owns 26,725 shares of the company’s stock valued at $566,000 after purchasing an additional 21,303 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after purchasing an additional 32,725 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on SONY shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a report on Monday. The Goldman Sachs Group assumed coverage on shares of Sony Group in a report on Tuesday, March 25th. They set a “buy” rating on the stock. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Sony Group Stock Performance

SONY opened at $23.00 on Thursday. The stock’s 50 day simple moving average is $23.91 and its 200-day simple moving average is $20.84. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.78. The stock has a market cap of $139.10 billion, a PE ratio of 18.67, a P/E/G ratio of 9.95 and a beta of 0.94. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $24.32 billion. Sell-side analysts forecast that Sony Group Co. will post 1.23 EPS for the current 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.