SRS Capital Advisors Inc. Has $120,000 Position in Sony Group Co. (NYSE:SONY)

SRS Capital Advisors Inc. grew its position in shares of Sony Group Co. (NYSE:SONY) by 618.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,651 shares of the company’s stock after purchasing an additional 4,864 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Sony Group were worth $120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bailard Inc. boosted its position in Sony Group by 289.4% during the 4th quarter. Bailard Inc. now owns 162,212 shares of the company’s stock worth $3,432,000 after buying an additional 120,552 shares during the period. Norden Group LLC raised its stake in shares of Sony Group by 530.6% during the fourth quarter. Norden Group LLC now owns 37,370 shares of the company’s stock valued at $791,000 after acquiring an additional 31,444 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Sony Group by 568.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 32,727 shares of the company’s stock worth $694,000 after purchasing an additional 27,828 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Sony Group by 336.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 4,600 shares of the company’s stock worth $97,000 after purchasing an additional 3,545 shares during the last quarter. Finally, Jacobi Capital Management LLC acquired a new stake in Sony Group in the fourth quarter valued at $206,000. 14.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. One equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Performance

SONY stock opened at $24.33 on Thursday. The firm has a market cap of $147.11 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. 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 50-day moving average price of $22.33 and a 200-day moving average price of $17.14. Sony Group Co. has a 1-year low of $15.02 and a 1-year 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 for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. As a group, equities research analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

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.