Rathbones Group PLC Sells 18,086 Shares of Sony Corporation $SONY

Rathbones Group PLC reduced its holdings in Sony Corporation (NYSE:SONY) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,321 shares of the company’s stock after selling 18,086 shares during the period. Rathbones Group PLC’s holdings in Sony were worth $3,809,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. NewSquare Capital LLC acquired a new stake in shares of Sony in the second quarter valued at about $28,000. GPS Wealth Strategies Group LLC grew its stake in Sony by 220.7% in 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 in the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Sony during the 2nd quarter worth approximately $39,000. Zions Bancorporation National Association UT acquired a new position in shares of Sony during the 1st quarter worth approximately $47,000. Finally, Financial Management Professionals Inc. raised its stake 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 worth $52,000 after purchasing an additional 889 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on SONY. Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Sony in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Cfra Research upgraded Sony to a “moderate buy” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat, Sony currently has an average rating of “Buy” and an average target price of $33.00.

Sony Price Performance

NYSE:SONY opened at $27.69 on Monday. Sony Corporation has a 52 week low of $18.41 and a 52 week high of $30.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The firm’s 50-day simple moving average is $28.75 and its 200 day simple moving average is $26.80. The firm has a market cap of $167.48 billion, a price-to-earnings ratio of 21.98 and a beta of 0.99.

Sony (NYSE:SONY) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $18.88 billion. During the same quarter in the prior year, the business posted $189.90 EPS. As a group, sell-side analysts predict that Sony Corporation will post 1.23 earnings per share for the current year.

Sony 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.