Mission Wealth Management LP Grows Stock Position in Sony Group Co. (NYSE:SONY)

Mission Wealth Management LP grew its position in shares of Sony Group Co. (NYSE:SONY) by 195.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,084 shares of the company’s stock after buying an additional 24,518 shares during the period. Mission Wealth Management LP’s holdings in Sony Group were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Trust Co lifted its holdings in Sony Group by 13.4% during the third quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock valued at $479,000 after purchasing an additional 585 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Sony Group by 14.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock valued at $447,000 after buying an additional 599 shares in the last quarter. West Family Investments Inc. boosted its holdings 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 during the period. Brown Brothers Harriman & Co. boosted its holdings 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 during the period. Finally, Coldstream Capital Management Inc. grew 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 valued at $352,000 after buying an additional 751 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

Sony Group stock opened at $24.16 on Wednesday. The stock has a market cap of $146.09 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 9.95 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $22.26 and a 200 day simple moving average of $17.09. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $25.64.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. On average, research analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $28.00.

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.