Sony Group (NYSE:SONY) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Sony Group (NYSE:SONY) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

SONY has been the topic of a number of other reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. The Goldman Sachs Group assumed coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Sony Group Trading Up 0.8%

NYSE:SONY opened at $25.54 on Thursday. The firm’s fifty day moving average is $24.45 and its 200-day moving average is $22.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group has a 52 week low of $15.67 and a 52 week high of $26.08. The firm has a market cap of $154.46 billion, a P/E ratio of 20.73, a P/E/G ratio of 9.95 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA lifted its position in shares of Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after acquiring an additional 80,724,932 shares during the period. Aristotle Capital Management LLC lifted its position in shares of Sony Group by 393.7% during the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after acquiring an additional 42,083,842 shares during the period. Fisher Asset Management LLC lifted its position in shares of Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after acquiring an additional 36,783,737 shares during the period. Bank of America Corp DE lifted its position in shares of Sony Group by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock valued at $503,713,000 after acquiring an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI lifted its position in shares of Sony Group by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after acquiring an additional 8,157,776 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

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.