Sony Group Co. (NYSE:SONY) Shares Sold by Fosun International Ltd

Fosun International Ltd cut its stake in shares of Sony Group Co. (NYSE:SONY) by 35.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,250 shares of the company’s stock after selling 2,330 shares during the period. Fosun International Ltd’s holdings in Sony Group were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SONY. SG Americas Securities LLC increased its stake in shares of Sony Group by 2,317.1% in the fourth quarter. SG Americas Securities LLC now owns 54,143 shares of the company’s stock valued at $5,127,000 after purchasing an additional 51,903 shares during the period. Fifth Third Bancorp lifted its position in shares of Sony Group by 290.8% in the 4th quarter. Fifth Third Bancorp now owns 44,095 shares of the company’s stock valued at $4,175,000 after acquiring an additional 32,811 shares in the last quarter. Cerity Partners LLC lifted its position in Sony Group by 103.2% in the 4th quarter. Cerity Partners LLC now owns 38,183 shares of the company’s stock worth $3,616,000 after buying an additional 19,395 shares in the last quarter. XY Capital Ltd purchased a new stake in Sony Group in the 3rd quarter worth approximately $876,000. Finally, Bleakley Financial Group LLC raised its holdings in shares of Sony Group by 25.3% during the 4th quarter. Bleakley Financial Group LLC now owns 7,178 shares of the company’s stock valued at $680,000 after purchasing an additional 1,450 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SONY. Oppenheimer restated an “outperform” rating and issued a $108.00 price objective on shares of Sony Group in a report on Monday, February 26th. Macquarie cut shares of Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, TheStreet upgraded shares of Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Trading Down 1.8 %

Shares of NYSE:SONY traded down $1.39 during trading on Thursday, reaching $76.96. 304,667 shares of the company traded hands, compared to its average volume of 765,821. The firm has a market capitalization of $94.99 billion, a price-to-earnings ratio of 15.13 and a beta of 0.95. Sony Group Co. has a 52-week low of $76.63 and a 52-week high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $85.00 and its 200-day moving average is $88.76.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The firm had revenue of $25.38 billion during the quarter, compared to the consensus estimate of $24.31 billion. As a group, analysts forecast that Sony Group Co. will post 5.22 EPS 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.