Bank of Montreal Can Purchases 447,967 Shares of Sony Group Co. (NYSE:SONY)

Bank of Montreal Can increased its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 384.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 564,358 shares of the company's stock after purchasing an additional 447,967 shares during the period. Bank of Montreal Can's holdings in Sony Group were worth $11,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SONY. Y.D. More Investments Ltd raised its stake in shares of Sony Group by 400.0% in the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company's stock valued at $763,000 after acquiring an additional 28,852 shares during the period. Bfsg LLC purchased a new position in shares of Sony Group in the fourth quarter worth about $6,125,000. Fifth Third Bancorp boosted its stake in shares of Sony Group by 311.3% in the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company's stock worth $3,337,000 after buying an additional 119,362 shares during the last quarter. West Family Investments Inc. boosted its holdings in Sony Group by 392.9% during the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company's stock worth $566,000 after buying an additional 21,303 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in shares of Sony Group by 430.0% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company's stock worth $854,000 after buying an additional 32,725 shares during the period. Hedge funds and other institutional investors own 14.05% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently issued reports on SONY. Wolfe Research reissued a "peer perform" rating on shares of Sony Group in a report on Monday, April 7th. The Goldman Sachs Group initiated coverage on Sony Group in a research report on Tuesday, March 25th. They set a "buy" rating on the stock. StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Oppenheimer reiterated an "outperform" rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Sony Group Stock Up 2.8 %

Shares of SONY traded up $0.66 during midday trading on Thursday, reaching $24.02. 4,548,926 shares of the stock were exchanged, compared to its average volume of 4,150,460. The firm has a 50 day simple moving average of $23.98 and a 200-day simple moving average of $21.39. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.78. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The company has a market cap of $145.23 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Research analysts forecast that Sony Group Co. will post 1.23 EPS for the current year.

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.