Sony Group Co. (NYSE:SONY) Shares Sold by Caprock Group LLC

Caprock Group LLC reduced its holdings in shares of Sony Group Co. (NYSE:SONY) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,665 shares of the company’s stock after selling 1,025 shares during the period. Caprock Group LLC’s holdings in Sony Group were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SONY. Russell Investments Group Ltd. lifted its holdings in shares of Sony Group by 107.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares during the period. 9258 Wealth Management LLC purchased a new position in Sony Group during the 4th quarter worth approximately $221,000. Johnson Investment Counsel Inc. boosted its holdings in shares of Sony Group by 5.8% in the 4th quarter. Johnson Investment Counsel Inc. now owns 8,084 shares of the company’s stock valued at $765,000 after acquiring an additional 443 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Sony Group by 61.9% in the fourth quarter. QRG Capital Management Inc. now owns 68,652 shares of the company’s stock worth $6,501,000 after acquiring an additional 26,256 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Sony Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 547,573 shares of the company’s stock valued at $51,850,000 after purchasing an additional 2,350 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Performance

SONY opened at $91.04 on Tuesday. The firm has a fifty day moving average price of $90.38 and a 200 day moving average price of $86.17. Sony Group Co. has a 1 year low of $75.11 and a 1 year high of $100.88. The stock has a market cap of $112.36 billion, a P/E ratio of 16.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

Sony Group’s stock is set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be payable to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Equities research analysts anticipate that Sony Group Co. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.