Pitcairn Co. Purchases 136,156 Shares of Sony Group Co. (NYSE:SONY)

Pitcairn Co. lifted its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 445.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,692 shares of the company's stock after purchasing an additional 136,156 shares during the quarter. Pitcairn Co.'s holdings in Sony Group were worth $3,527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Primecap Management Co. CA boosted its position in Sony Group by 379.5% in the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock valued at $961,089,000 after acquiring an additional 36,783,737 shares during the period. Mondrian Investment Partners LTD raised its holdings in shares of Sony Group by 358.2% in the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock worth $223,039,000 after purchasing an additional 7,925,643 shares during the period. Clearbridge Investments LLC lifted its stake in Sony Group by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company's stock valued at $125,477,000 after purchasing an additional 4,703,571 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Sony Group by 362.7% during the fourth quarter. Sei Investments Co. now owns 3,245,587 shares of the company's stock valued at $68,677,000 after purchasing an additional 2,544,193 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently commented on SONY. StockNews.com cut Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating for the company. Oppenheimer restated 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, The Goldman Sachs Group assumed coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a "buy" rating for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sony Group has a consensus rating of "Buy" and a consensus price target of $28.00.

Sony Group Price Performance

Shares of SONY stock traded down $1.57 during trading hours on Friday, reaching $21.81. The stock had a trading volume of 7,989,026 shares, compared to its average volume of 4,058,797. The stock's fifty day simple moving average is $23.90 and its 200 day simple moving average is $20.32. The firm has a market capitalization of $131.90 billion, a PE ratio of 17.70, a PEG ratio of 9.95 and a beta of 0.94. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.78. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 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 during the quarter, compared to the consensus estimate of $24.32 billion. On average, equities research analysts predict that Sony Group Co. will post 1.23 EPS for the current year.

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.