Pekin Hardy Strauss Inc. Cuts Stake in Sony Corporation $SONY

Pekin Hardy Strauss Inc. lessened its stake in shares of Sony Corporation (NYSE:SONY) by 61.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,814 shares of the company’s stock after selling 179,785 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Sony were worth $2,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in shares of Sony during the 2nd quarter worth approximately $28,000. GPS Wealth Strategies Group LLC grew its holdings in Sony by 220.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,148 shares of the company’s stock valued at $30,000 after purchasing an additional 790 shares during the period. Trust Co. of Toledo NA OH purchased a new stake in Sony in the second quarter worth $39,000. Zions Bancorporation National Association UT bought a new stake in shares of Sony in the first quarter valued at $47,000. Finally, Financial Management Professionals Inc. lifted its position in shares of Sony by 81.5% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company’s stock valued at $52,000 after buying an additional 889 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SONY has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Sony in a report on Wednesday, October 8th. Wolfe Research upgraded shares of Sony from a “peer perform” rating to an “outperform” rating in a research note on Wednesday. Zacks Research raised shares of Sony from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Finally, Cfra Research raised shares of Sony to a “moderate buy” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $33.00.

Sony Price Performance

SONY stock opened at $28.29 on Friday. The firm has a 50 day moving average of $28.75 and a 200-day moving average of $26.75. The firm has a market capitalization of $171.09 billion, a P/E ratio of 22.45 and a beta of 0.99. Sony Corporation has a 12 month low of $18.12 and a 12 month high of $30.28. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16.

Sony (NYSE:SONY) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The firm had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. During the same period last year, the firm earned $189.90 EPS. As a group, sell-side analysts predict that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

Sony 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.