First Horizon Advisors Inc. Buys 194 Shares of Sony Group Co. (NYSE:SONY)

First Horizon Advisors Inc. grew its stake in Sony Group Co. (NYSE:SONY) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030 shares of the company’s stock after acquiring an additional 194 shares during the period. First Horizon Advisors Inc.’s holdings in Sony Group were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its position in Sony Group by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after acquiring an additional 342,025 shares during the last quarter. Mondrian Investment Partners LTD raised its holdings in shares of Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after buying an additional 774,502 shares during the last quarter. Harding Loevner LP raised its holdings in shares of Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after buying an additional 2,181,169 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Sony Group by 1.2% in the first quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company’s stock worth $138,635,000 after buying an additional 18,487 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Sony Group by 26.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after buying an additional 277,537 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors.

Sony Group Price Performance

SONY traded down $0.60 on Tuesday, reaching $90.85. 181,788 shares of the company’s stock were exchanged, compared to its average volume of 846,088. The stock has a market cap of $112.13 billion, a PE ratio of 16.68 and a beta of 0.94. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. The stock’s fifty day moving average price is $86.93 and its 200-day moving average price is $86.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

Sony Group shares are scheduled to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be payable to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Sell-side analysts expect that Sony Group Co. will post 5.68 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Company 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.