Sony Group (NYSE:SONY) Shares Gap Up to $92.81

Shares of Sony Group Co. (NYSE:SONY - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $92.81, but opened at $95.25. Sony Group shares last traded at $95.58, with a volume of 108,268 shares.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sony Group from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $108.00.

Sony Group Stock Up 3.5 %

The stock has a market cap of $118.57 billion, a price-to-earnings ratio of 17.66 and a beta of 0.94. The business has a fifty day moving average of $87.80 and a 200 day moving average of $85.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

Shares of Sony Group are set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $19.32 billion during the quarter, compared to analysts' expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, equities analysts predict that Sony Group Co. will post 5.68 earnings per share for the current year.

Institutional Investors Weigh In On Sony Group

A number of institutional investors have recently added to or reduced their stakes in SONY. JFS Wealth Advisors LLC grew its stake in Sony Group by 24.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 544 shares of the company's stock worth $52,000 after buying an additional 108 shares during the last quarter. Legacy Capital Group California Inc. grew its position in shares of Sony Group by 2.4% in the 4th quarter. Legacy Capital Group California Inc. now owns 4,703 shares of the company's stock valued at $445,000 after purchasing an additional 110 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Sony Group by 16.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 786 shares of the company's stock worth $74,000 after buying an additional 112 shares in the last quarter. American National Bank lifted its stake in Sony Group by 11.3% in the 2nd quarter. American National Bank now owns 1,172 shares of the company's stock valued at $100,000 after acquiring an additional 119 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Sony Group by 1.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company's stock worth $735,000 after acquiring an additional 124 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Company 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.