Todd Asset Management LLC Reduces Position in Sony Corporation $SONY

Todd Asset Management LLC trimmed its holdings in shares of Sony Corporation (NYSE:SONY) by 30.4% during the fourth quarter, Holdings Channel reports. The fund owned 833,175 shares of the company’s stock after selling 364,453 shares during the quarter. Todd Asset Management LLC’s holdings in Sony were worth $21,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SONY. Fisher Asset Management LLC increased its holdings in Sony by 2.7% in the third quarter. Fisher Asset Management LLC now owns 104,644,526 shares of the company’s stock valued at $3,128,924,000 after buying an additional 2,766,460 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in Sony in the third quarter valued at approximately $277,631,000. Capital International Investors boosted its position in shares of Sony by 245.0% during the third quarter. Capital International Investors now owns 6,049,618 shares of the company’s stock worth $176,044,000 after buying an additional 4,296,028 shares during the period. Capital World Investors boosted its position in shares of Sony by 0.4% during the third quarter. Capital World Investors now owns 5,001,748 shares of the company’s stock worth $144,021,000 after buying an additional 20,960 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Sony by 1.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,411,634 shares of the company’s stock worth $87,342,000 after buying an additional 37,360 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sony

In other Sony news, Director Kenichiro Yoshida sold 400,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the completion of the sale, the director directly owned 661,615 shares in the company, valued at $14,959,115.15. This represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tsuyoshi Kodera sold 17,500 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $22.61, for a total transaction of $395,675.00. Following the sale, the insider owned 27,553 shares of the company’s stock, valued at $622,973.33. This trade represents a 38.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.00% of the stock is owned by corporate insiders.

Sony Trading Down 0.2%

Shares of NYSE:SONY opened at $22.09 on Monday. The stock has a market capitalization of $131.40 billion, a PE ratio of -110.43, a P/E/G ratio of 1.73 and a beta of 0.92. Sony Corporation has a 1 year low of $19.63 and a 1 year high of $30.34. The firm has a fifty day moving average price of $21.06 and a 200 day moving average price of $23.69. The company has a current ratio of 1.18, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10.

Sony (NYSE:SONY) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The business had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $32.86 earnings per share. Analysts expect that Sony Corporation will post 1.3 EPS for the current fiscal year.

Sony Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, March 30th will be issued a dividend of $0.0796 per share. This represents a yield of 80.0%. The ex-dividend date is Monday, March 30th. Sony’s dividend payout ratio is -55.00%.

Analyst Ratings Changes

Several equities research analysts recently commented on SONY shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a report on Wednesday. Benchmark reaffirmed a “buy” rating on shares of Sony in a report on Monday, May 11th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $22.00 target price (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.00.

More Sony News

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s upgraded Reon Pocket Pro Plus wearable “air conditioner” is drawing fresh consumer interest and favorable coverage, which could help showcase growth in its non-gaming hardware lineup. Sony Launches Reon Pocket Pro Plus Wearable Air Conditioner In Time For Summer Heatwaves
• Positive Sentiment: Multiple articles highlight strong consumer appeal for Sony’s wearable cooling device, suggesting the product could become a seasonal sales driver and improve sentiment around Sony’s innovation pipeline. Sony’s wearable ‘air conditioner’ gets an upgrade for a better fit and stronger cooling
• Positive Sentiment: A petition calling on Sony to develop Destiny 3 has surpassed 120,000 signatures, underscoring continued fan demand for PlayStation content and the value of Sony’s gaming franchises. A Petition Calling on Sony to Greenlight Destiny 3 Has Over 120000 Signatures Already — and It’s Rising Fast
• Neutral Sentiment: Coverage of Sony E-mount camera lenses and Sony-branded headphones reflects continued brand strength in consumer electronics, but it is unlikely to materially move the stock on its own. Thypoch enters autofocus market with Voyager 24-50mm f-2.8 for Sony E-mount
• Neutral Sentiment: Consumer deal articles mentioning Sony headphones and portable speakers may help brand visibility, but they do not appear to include any new company-specific catalyst. I’ve tested portable speakers from Bose, Sony, JBL, more – these deals are actually worth it
• Neutral Sentiment: Reports on Sony’s Xperia 1 VIII and a new PlayStation model add to product buzz, but they are speculative and do not confirm a major near-term financial impact. Sony Xperia 1 VIII is a step in the right direction, with features Samsung Galaxy phones miss — so why is a US launch so hard?
• Neutral Sentiment: Media commentary about Sony potentially launching another PlayStation to offset slower PS5 sales points to ongoing strategy discussion, but it remains unconfirmed and speculative. Sony apparently thinks the best fix for slow PS5 sales is… another PlayStation
• Neutral Sentiment: Coverage of the Sony WH-1000XM5 hitting a record-low price is consumer-focused and could support demand, but it is not a major fundamental catalyst for the stock. Twice as Cheap as the XM6, the Sony WH-1000XM5 ANC Headphone Just Hit a Record Low
• Negative Sentiment: Discussion of slower PS5 sales could weigh on sentiment if investors worry Sony’s gaming momentum is cooling, even though the reports are mostly speculative. Sony apparently thinks the best fix for slow PS5 sales is… another PlayStation

About Sony

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.