Sony Group (NYSE:SONY) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Sony Group (NYSE:SONY) in a research report sent to investors on Tuesday morning. The firm issued a buy rating on the stock.

Several other brokerages have also recently issued reports on SONY. Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating on the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Oppenheimer restated an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One 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. According to data from MarketBeat.com, Sony Group currently has an average rating of “Buy” and an average target price of $28.00.

Sony Group Stock Down 0.1 %

SONY opened at $25.24 on Tuesday. The stock has a market capitalization of $152.64 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 9.95 and a beta of 0.91. The firm has a 50 day moving average price of $23.28 and a 200-day moving average price of $19.26. Sony Group has a twelve month low of $15.02 and a twelve month high of $25.64. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Equities research analysts forecast that Sony Group will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA increased its stake in Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares in the last quarter. 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 acquiring an additional 42,083,842 shares during the period. Fisher Asset Management LLC grew its position in shares of 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 purchasing an additional 36,783,737 shares in the last quarter. Bank of America Corp DE raised its stake in Sony Group by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock valued at $503,713,000 after purchasing an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI boosted its stake in Sony Group by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock worth $218,382,000 after purchasing an additional 8,157,776 shares during the period. 14.05% of the stock is currently owned by 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.