Raymond James Financial Inc. Takes $36.96 Million Position in Sony Group Co. (NYSE:SONY)

Raymond James Financial Inc. acquired a new stake in Sony Group Co. (NYSE:SONY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,746,877 shares of the company's stock, valued at approximately $36,964,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FCA Corp TX lifted its position in Sony Group by 22.5% in the 4th quarter. FCA Corp TX now owns 4,900 shares of the company's stock valued at $104,000 after acquiring an additional 900 shares in the last quarter. Silicon Valley Capital Partners boosted its holdings in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock worth $25,000 after purchasing an additional 927 shares during the last quarter. Fairscale Capital LLC increased its stake in Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock valued at $26,000 after buying an additional 992 shares during the last quarter. General Partner Inc. boosted its stake in shares of Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after buying an additional 996 shares during the last quarter. Finally, Accent Capital Management LLC increased its position in shares of Sony Group by 400.0% in the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock valued at $29,000 after acquiring an additional 1,104 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sony Group Stock Performance

NYSE SONY traded up $0.66 on Friday, reaching $24.02. The stock had a trading volume of 4,549,476 shares, compared to its average volume of 4,163,112. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market cap of $145.23 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94. The firm has a fifty day moving average of $24.05 and a two-hundred day moving average of $21.46. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.78.

Sony Group (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping 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 company had revenue of $28.95 billion for the quarter, compared to analysts' expectations of $24.32 billion. On average, equities research analysts anticipate 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.