Bank of New York Mellon Corp Grows Stake in Sony Group Co. (NYSE:SONY)

Bank of New York Mellon Corp increased its stake in Sony Group Co. (NYSE:SONY - Free Report) by 293.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 805,812 shares of the company's stock after acquiring an additional 600,974 shares during the period. Bank of New York Mellon Corp's holdings in Sony Group were worth $17,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd boosted its position in shares of Sony Group by 400.0% during the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company's stock valued at $763,000 after buying an additional 28,852 shares during the period. Bfsg LLC purchased a new position in shares of Sony Group during the fourth quarter valued at approximately $6,125,000. Fifth Third Bancorp boosted its position in shares of Sony Group by 311.3% during the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company's stock valued at $3,337,000 after buying an additional 119,362 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company's stock valued at $854,000 after buying an additional 32,725 shares during the period. Finally, One Wealth Advisors LLC boosted its position in shares of Sony Group by 400.9% during the fourth quarter. One Wealth Advisors LLC now owns 34,475 shares of the company's stock valued at $729,000 after buying an additional 27,593 shares during the period. Hedge funds and other institutional investors own 14.05% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SONY shares. Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They set an "outperform" rating for the company. Oppenheimer restated an "outperform" rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $28.00.

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Sony Group Stock Performance

Sony Group stock opened at $22.95 on Wednesday. The company has a 50 day moving average price of $22.51 and a 200-day moving average price of $17.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.64. The company has a market capitalization of $138.76 billion, a PE ratio of 18.62, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share 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 during the quarter, compared to the consensus estimate of $24.32 billion. As a group, equities analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current year.

Sony Group Profile

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.

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