Pekin Hardy Strauss Inc. Raises Stock Holdings in Sony Group Co. (NYSE:SONY)

Pekin Hardy Strauss Inc. raised its stake in shares of Sony Group Co. (NYSE:SONY) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,639 shares of the company’s stock after acquiring an additional 2,510 shares during the period. Sony Group makes up 0.9% of Pekin Hardy Strauss Inc.’s holdings, making the stock its 27th biggest holding. Pekin Hardy Strauss Inc.’s holdings in Sony Group were worth $6,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Sony Group in the 2nd quarter valued at $26,000. Sunbelt Securities Inc. purchased a new stake in Sony Group during the first quarter worth about $29,000. Rise Advisors LLC lifted its position in shares of Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Sony Group in the second quarter valued at approximately $41,000. Finally, Family Firm Inc. acquired a new position in shares of Sony Group in the second quarter valued at approximately $44,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Stock Performance

Shares of SONY opened at $93.06 on Tuesday. The stock has a 50-day simple moving average of $91.09 and a 200-day simple moving average of $86.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group Co. has a 1 year low of $75.11 and a 1 year high of $100.88. The stock has a market capitalization of $114.86 billion, a PE ratio of 17.11 and a beta of 0.95.

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 issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. On average, analysts predict that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

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.