Gabelli Funds LLC decreased its position in Sony Group Co. (NYSE:SONY – Get Rating) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,543,950 shares of the company’s stock after selling 42,525 shares during the quarter. Sony Group accounts for 0.8% of Gabelli Funds LLC’s portfolio, making the stock its 14th largest position. Gabelli Funds LLC owned about 0.12% of Sony Group worth $98,890,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Fisher Asset Management LLC increased its stake in Sony Group by 1,876.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,743,413 shares of the company’s stock worth $303,816,000 after purchasing an additional 4,503,375 shares during the period. Boston Partners increased its stake in Sony Group by 1.5% in the 3rd quarter. Boston Partners now owns 1,722,784 shares of the company’s stock worth $111,064,000 after purchasing an additional 25,191 shares during the period. BlackRock Inc. increased its stake in Sony Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 1,510,796 shares of the company’s stock worth $155,174,000 after purchasing an additional 11,272 shares during the period. Clearbridge Investments LLC increased its stake in Sony Group by 1.8% in the 2nd quarter. Clearbridge Investments LLC now owns 798,372 shares of the company’s stock worth $65,283,000 after purchasing an additional 14,222 shares during the period. Finally, Manning & Napier Group LLC increased its stake in Sony Group by 7.7% in the 3rd quarter. Manning & Napier Group LLC now owns 786,026 shares of the company’s stock worth $50,343,000 after purchasing an additional 56,226 shares during the period. 7.74% of the stock is owned by hedge funds and other institutional investors.
Sony Group Price Performance
Shares of SONY stock opened at $82.68 on Friday. The stock has a market cap of $102.28 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.52 and a beta of 1.03. The business’s fifty day moving average is $84.41 and its 200 day moving average is $78.73. Sony Group Co. has a twelve month low of $61.72 and a twelve month high of $107.52. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.23.
Analysts Set New Price Targets
A number of brokerages have commented on SONY. Cowen lifted their price target on Sony Group from $102.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research note on Monday, December 5th. Finally, Cowen reduced their target price on Sony Group from $144.00 to $102.00 in a research note on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.00.
Sony Group Company Profile
Sony Group Corp. engages in the development, design, manufacture, and sale of electronic equipment, instruments, devices, game consoles, and software for consumers, professionals and industrial markets. It operates through the following segments: Game and Network Services, Music, Pictures, Home Entertainment and Sound, Imaging Products and Solutions, Mobile Communications, Semiconductors, Financial Services, and Others.
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