Freedom Investment Management Inc. Makes New $1.69 Million Investment in Sony Group Co. (NYSE:SONY)

Freedom Investment Management Inc. purchased a new stake in shares of Sony Group Co. (NYSE:SONY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 79,899 shares of the company’s stock, valued at approximately $1,691,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA lifted its holdings in shares of Sony Group by 379.5% during the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after purchasing an additional 80,724,932 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the last quarter. Mondrian Investment Partners LTD raised its stake in Sony Group by 358.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after buying an additional 7,925,643 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Sony Group by 401.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,141,717 shares of the company’s stock valued at $151,119,000 after acquiring an additional 5,718,378 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Sony Group by 389.3% in the fourth quarter. Gabelli Funds LLC now owns 6,369,581 shares of the company’s stock valued at $134,780,000 after acquiring an additional 5,067,835 shares during the period. Institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

Shares of NYSE:SONY opened at $24.02 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a market cap of $145.23 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 9.95 and a beta of 0.94. The firm has a fifty day moving average price of $24.01 and a 200 day moving average price of $21.42. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78.

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

Analyst Ratings Changes

SONY has been the subject of several research reports. Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group initiated coverage on Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating for the company. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sony Group currently has an average rating of “Moderate 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.