Sony Group Stock to Split on Monday, September 30th (NYSE:SONY)

Sony Group Co. (NYSE:SONY)’s stock is scheduled to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the market closes on Monday, September 30th.

Sony Group Stock Performance

Shares of SONY opened at $96.00 on Thursday. Sony Group has a 1 year low of $75.11 and a 1 year high of $100.88. The stock has a market capitalization of $118.49 billion, a P/E ratio of 17.65 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The company’s fifty day moving average is $90.90 and its two-hundred day moving average is $86.75.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. On average, sell-side analysts predict that Sony Group will post 5.63 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on SONY. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, three have given 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 a consensus rating of “Moderate Buy” and an average target price of $108.00.

Institutional Investors Weigh In On Sony Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Ethic Inc. boosted its position in Sony Group by 18.0% during the fourth quarter. Ethic Inc. now owns 119,939 shares of the company’s stock worth $11,357,000 after acquiring an additional 18,334 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in shares of Sony Group during the second quarter worth $1,413,000. Harding Loevner LP grew its position in shares of Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after purchasing an additional 2,181,169 shares during the period. BTC Capital Management Inc. acquired a new position in Sony Group in the first quarter valued at $1,141,000. Finally, Blue Trust Inc. lifted its position in Sony Group by 279.8% during the second quarter. Blue Trust Inc. now owns 3,445 shares of the company’s stock worth $295,000 after buying an additional 2,538 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

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.