Riverwater Partners LLC Increases Position in Sony Group Co. (NYSE:SONY)

Riverwater Partners LLC boosted its position in Sony Group Co. (NYSE:SONY - Free Report) by 400.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,600 shares of the company's stock after purchasing an additional 21,280 shares during the period. Riverwater Partners LLC's holdings in Sony Group were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SONY. Primecap Management Co. CA boosted its holdings in shares of 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 buying an additional 80,724,932 shares during the period. Fisher Asset Management LLC boosted its stake in Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the period. Mondrian Investment Partners LTD grew its position in Sony Group by 358.2% during 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 in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of 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 in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Sony Group by 362.7% in the fourth quarter. Sei Investments Co. now owns 3,245,587 shares of the company's stock worth $68,677,000 after buying an additional 2,544,193 shares during the period. 14.05% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Sony Group Stock Performance

Shares of SONY traded down $0.32 during trading hours on Thursday, hitting $22.65. The company's stock had a trading volume of 4,216,724 shares, compared to its average volume of 4,117,810. The company has a market cap of $136.97 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 9.95 and a beta of 0.94. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.78. 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 business has a 50 day simple moving average of $23.91 and a two-hundred day simple moving average of $20.84.

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