Mather Group LLC. Buys New Stake in Sony Group Co. (NYSE:SONY)

Mather Group LLC. bought a new stake in shares of Sony Group Co. (NYSE:SONY) during the 1st quarter, Holdings Channel.com reports. The firm bought 1,053 shares of the company’s stock, valued at approximately $100,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SONY. Harding Loevner LP lifted its holdings in shares of Sony Group by 2,206.6% during the 4th quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after acquiring an additional 2,181,169 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after buying an additional 342,025 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Sony Group by 26.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after buying an additional 277,537 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Sony Group by 77.6% in the 4th quarter. Natixis Advisors L.P. now owns 315,680 shares of the company’s stock worth $29,891,000 after buying an additional 137,963 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Sony Group by 39.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 420,973 shares of the company’s stock worth $39,908,000 after buying an additional 118,506 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

SONY opened at $80.51 on Friday. The company has a 50-day moving average of $82.17 and a 200-day moving average of $87.99. The company has a market capitalization of $99.37 billion, a P/E ratio of 14.80 and a beta of 0.95. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.52 and a current ratio of 0.66.

Sony Group (NYSE:SONY) last released its earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $23.45 billion during the quarter, compared to the consensus estimate of $18.97 billion. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. During the same quarter in the previous year, the firm earned $0.78 EPS. Equities analysts expect that Sony Group Co. will post 5.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Oppenheimer reiterated an “outperform” rating and issued a $108.00 price objective on shares of Sony Group in a report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Sony Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

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.