1832 Asset Management L.P. Raises Stake in Sony Corporation $SONY

1832 Asset Management L.P. increased its stake in Sony Corporation (NYSE:SONY) by 702.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,318,299 shares of the company’s stock after buying an additional 1,154,010 shares during the quarter. 1832 Asset Management L.P.’s holdings in Sony were worth $33,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aristotle Capital Management LLC boosted its holdings in shares of Sony by 393.7% in the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock worth $1,116,653,000 after buying an additional 42,083,842 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Sony by 377.7% in the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after buying an additional 18,821,902 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Sony by 3.4% in the 1st quarter. Northern Trust Corp now owns 7,845,521 shares of the company’s stock worth $199,198,000 after buying an additional 257,838 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Sony by 416.6% in the 4th quarter. Royal Bank of Canada now owns 5,796,210 shares of the company’s stock worth $122,649,000 after buying an additional 4,674,249 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Sony in the 1st quarter worth about $78,905,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Sony from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Sony currently has an average rating of “Buy” and an average price target of $28.00.

Sony Trading Up 3.4%

Shares of Sony stock opened at $28.5750 on Friday. Sony Corporation has a 52-week low of $17.42 and a 52-week high of $29.16. The stock’s 50-day simple moving average is $25.61 and its 200 day simple moving average is $24.96. The stock has a market capitalization of $172.81 billion, a P/E ratio of 22.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09.

Sony (NYSE:SONY) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Sony had a return on equity of 13.88% and a net margin of 9.14%.The business had revenue of $17.79 billion for the quarter, compared to analysts’ expectations of $18.88 billion. During the same period in the previous year, the business posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Sony Corporation will post 1.23 EPS for the current year.

About Sony

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.