DAVENPORT & Co LLC Acquires 21,085 Shares of Sony Group Co. (NYSE:SONY)

DAVENPORT & Co LLC boosted its holdings in Sony Group Co. (NYSE:SONYFree Report) by 47.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,543 shares of the company’s stock after purchasing an additional 21,085 shares during the quarter. DAVENPORT & Co LLC’s holdings in Sony Group were worth $6,206,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Sony Group by 27.2% during the 1st quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock worth $402,598,000 after purchasing an additional 949,271 shares in the last quarter. Morgan Stanley boosted its holdings in Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock worth $344,629,000 after acquiring an additional 15,415 shares in the last quarter. BlackRock Inc. grew its stake in Sony Group by 32.8% in the second quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock valued at $316,869,000 after acquiring an additional 869,957 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Sony Group by 11.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,283,236 shares of the company’s stock valued at $115,543,000 after acquiring an additional 130,410 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Sony Group by 1.0% during the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock worth $99,987,000 after purchasing an additional 12,467 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Trading Up 0.5 %

NYSE:SONY opened at $85.77 on Thursday. Sony Group Co. has a 12 month low of $79.62 and a 12 month high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $90.09 and its 200 day moving average is $88.90. The stock has a market capitalization of $105.86 billion, a PE ratio of 16.56 and a beta of 0.98.

Sony Group (NYSE:SONYGet Free Report) last issued its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.32. The firm had revenue of $25.38 billion for the quarter, compared to analyst estimates of $24.31 billion. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. Sell-side analysts expect that Sony Group Co. will post 5.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SONY. Macquarie lowered shares of Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Oppenheimer restated an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a report on Monday, February 26th. Wolfe Research assumed coverage on Sony Group in a research note on Tuesday, December 12th. They set an “outperform” rating for the company. Finally, StockNews.com raised Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

View Our Latest Stock Analysis on SONY

Sony Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sony Group (NYSE:SONY)

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