Rathbones Group PLC Has $3.81 Million Stake in Sony Corporation $SONY

Rathbones Group PLC reduced its position in Sony Corporation (NYSE:SONY) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,321 shares of the company’s stock after selling 18,086 shares during the quarter. Rathbones Group PLC’s holdings in Sony were worth $3,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in shares of Sony during the 1st quarter worth approximately $78,905,000. Allspring Global Investments Holdings LLC lifted its stake in Sony by 4,056.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company’s stock worth $50,269,000 after purchasing an additional 1,926,156 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Sony by 702.4% during the first quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company’s stock worth $33,472,000 after purchasing an additional 1,154,010 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Sony by 124.5% in the 1st quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company’s stock valued at $52,814,000 after purchasing an additional 1,142,849 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Sony by 175.6% in the 2nd quarter. Assetmark Inc. now owns 1,469,596 shares of the company’s stock valued at $38,254,000 after purchasing an additional 936,441 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Price Performance

Sony stock opened at $27.69 on Monday. The stock has a 50-day moving average price of $28.75 and a two-hundred day moving average price of $26.80. Sony Corporation has a 12 month low of $18.41 and a 12 month high of $30.28. The company has a market capitalization of $167.48 billion, a PE ratio of 21.98 and a beta of 0.99. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16.

Sony (NYSE:SONY) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same quarter in the prior year, the firm posted $189.90 earnings per share. Analysts expect that Sony Corporation will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SONY. Cfra Research upgraded Sony to a “moderate buy” rating in a research report on Friday, October 10th. Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, Sony currently has a consensus rating of “Buy” and an average price target of $33.00.

Sony 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.