US Bancorp DE Acquires 534,354 Shares of Sony Group Co. (NYSE:SONY)

US Bancorp DE increased its position in Sony Group Co. (NYSE:SONY) by 419.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,811 shares of the company’s stock after buying an additional 534,354 shares during the period. US Bancorp DE’s holdings in Sony Group were worth $14,004,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after buying an additional 36,783,737 shares during the period. Henry James International Management Inc. grew its stake in shares of Sony Group by 400.2% in the 4th quarter. Henry James International Management Inc. now owns 523,175 shares of the company’s stock valued at $11,070,000 after buying an additional 418,578 shares during the period. SVB Wealth LLC acquired a new position in Sony Group during the 4th quarter valued at about $538,000. Flputnam Investment Management Co. boosted its stake in shares of Sony Group by 354.2% in the 4th quarter. Flputnam Investment Management Co. now owns 23,861 shares of the company’s stock worth $505,000 after buying an additional 18,608 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Sony Group by 474.7% in the 4th quarter. Private Trust Co. NA now owns 3,655 shares of the company’s stock worth $77,000 after buying an additional 3,019 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Trading Down 1.8 %

NYSE:SONY opened at $24.59 on Tuesday. 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 stock has a market capitalization of $148.71 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. The firm’s 50 day moving average is $22.20 and its 200 day moving average is $16.94. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SONY shares. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein started coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $28.00.

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.