Frank Rimerman Advisors LLC Grows Stock Position in Sony Group Co. (NYSE:SONY)

Frank Rimerman Advisors LLC grew its position in Sony Group Co. (NYSE:SONY) by 178.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 83,071 shares of the company’s stock after buying an additional 53,237 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Sony Group were worth $1,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SONY. Mizuho Markets Americas LLC purchased a new position in shares of Sony Group in the third quarter valued at approximately $324,000. Natixis Advisors LLC lifted its position in shares of Sony Group by 28.3% in the third quarter. Natixis Advisors LLC now owns 353,041 shares of the company’s stock valued at $34,093,000 after acquiring an additional 77,870 shares in the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of Sony Group in the third quarter valued at approximately $244,000. Thrivent Financial for Lutherans increased its holdings in shares of Sony Group by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 637,656 shares of the company’s stock valued at $61,579,000 after purchasing an additional 2,974 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Sony Group in the third quarter valued at approximately $302,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Trading Up 3.0 %

Shares of NYSE SONY opened at $24.11 on Friday. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.64. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $22.67 and a 200-day simple moving average of $18.02. The stock has a market capitalization of $145.78 billion, a PE ratio of 19.57, a PEG ratio of 9.95 and a beta of 0.91.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SONY shares. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sony Group currently has a consensus rating of “Buy” and a consensus 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.