Sony Group (NYSE:SONY) Sets New 12-Month High – Still a Buy?

Shares of Sony Group Co. (NYSE:SONY) reached a new 52-week high on Thursday . The stock traded as high as $25.78 and last traded at $25.69, with a volume of 1199775 shares trading hands. The stock had previously closed at $25.50.

Analyst Ratings Changes

Several research analysts have issued reports on SONY shares. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Oppenheimer reaffirmed an “outperform” rating and set 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 Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Sony Group in a research report on Tuesday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Down 2.1 %

The company has a 50-day moving average of $23.58 and a 200-day moving average of $19.50. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $151.83 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. On average, equities analysts predict that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Sony Group

Large investors have recently made changes to their positions in the business. Primecap Management Co. CA grew its position in Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares during the period. Aristotle Capital Management LLC boosted its stake in shares of Sony Group by 393.7% in the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock worth $1,116,653,000 after buying an additional 42,083,842 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after acquiring an additional 36,783,737 shares during the period. Bank of America Corp DE raised its position in Sony Group by 377.7% during the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock valued at $503,713,000 after acquiring an additional 18,821,902 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its holdings in Sony Group by 377.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after acquiring an additional 8,157,776 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

About Sony Group

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.