SouthState Corp Raises Position in Sony Group Co. (NYSE:SONY)

SouthState Corp raised its holdings in shares of Sony Group Co. (NYSE:SONY) by 385.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 694,261 shares of the company’s stock after acquiring an additional 551,359 shares during the quarter. Sony Group makes up 1.0% of SouthState Corp’s portfolio, making the stock its 29th largest holding. SouthState Corp’s holdings in Sony Group were worth $14,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SONY. Fiduciary Trust Co increased its holdings in Sony Group by 13.4% in the 3rd quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock valued at $479,000 after acquiring an additional 585 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Sony Group by 14.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock valued at $447,000 after acquiring an additional 599 shares during the last quarter. West Family Investments Inc. increased its holdings in Sony Group by 13.0% in the 3rd quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock valued at $524,000 after acquiring an additional 623 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Sony Group by 106.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock worth $134,000 after buying an additional 716 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Sony Group by 23.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock worth $352,000 after buying an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

SONY stock opened at $24.11 on Monday. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.64. 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 company has a 50-day moving average price of $22.67 and a 200 day moving average price of $18.22. The stock has a market cap of $145.78 billion, a PE ratio of 19.57, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping 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 firm had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Equities research analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SONY shares. 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. Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.