Scotia Capital Inc. Grows Position in Sony Group Co. (NYSE:SONY)

Scotia Capital Inc. raised its stake in Sony Group Co. (NYSE:SONY - Free Report) by 355.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,937 shares of the company's stock after acquiring an additional 312,218 shares during the quarter. Scotia Capital Inc.'s holdings in Sony Group were worth $8,463,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Silicon Valley Capital Partners raised its holdings in shares of Sony Group by 401.3% during the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock worth $25,000 after acquiring an additional 927 shares during the period. General Partner Inc. increased its position in shares of Sony Group by 400.0% in the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Sony Group in the fourth quarter valued at approximately $26,000. Fairscale Capital LLC boosted its position in shares of 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 purchasing an additional 992 shares during the period. Finally, Accent Capital Management LLC increased its stake in 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 purchasing an additional 1,104 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SONY shares. StockNews.com lowered shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Wolfe Research reissued a "peer perform" rating on shares of Sony Group in a research report on Monday, April 7th. Oppenheimer reiterated an "outperform" rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group began coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a "buy" rating on the stock. Finally, Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Group Price Performance

Sony Group stock traded down $0.16 on Wednesday, reaching $23.52. The company's stock had a trading volume of 1,266,026 shares, compared to its average volume of 4,141,046. The company has a market cap of $142.24 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 9.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The business's fifty day moving average price is $23.97 and its 200 day moving average price is $21.38. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.78.

Sony Group (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. 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.