Hardy Reed LLC Boosts Stake in Sony Group Co. (NYSE:SONY)

Hardy Reed LLC lifted its stake in Sony Group Co. (NYSE:SONY) by 400.0% in the 4th quarter, HoldingsChannel reports. The firm owned 18,215 shares of the company’s stock after acquiring an additional 14,572 shares during the period. Hardy Reed LLC’s holdings in Sony Group were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fiduciary Trust Co increased its stake in shares of Sony Group by 13.4% in the 3rd quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock worth $479,000 after purchasing an additional 585 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Sony Group by 14.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock worth $447,000 after buying an additional 599 shares in the last quarter. West Family Investments Inc. increased its stake in Sony Group by 13.0% in the 3rd quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock worth $524,000 after buying an additional 623 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in 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 in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in 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 in the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Up 0.9 %

Shares of NYSE:SONY opened at $24.74 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $24.88. The company has a 50-day moving average price of $21.63 and a 200 day moving average price of $15.64. The company has a market cap of $149.59 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 9.90 and a beta of 0.96.

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 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 the consensus estimate of $24.32 billion. As a group, equities research analysts predict that Sony Group Co. will post 1.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on SONY. Sanford C. Bernstein began coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer cut their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sony Group currently has a consensus rating of “Buy” and a consensus price target of $24.00.

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.