Meyer Handelman Co. Increases Stake in Sony Group Co. (NYSE:SONY)

Meyer Handelman Co. lifted its holdings in shares of Sony Group Co. (NYSE:SONY) by 400.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,435 shares of the company’s stock after purchasing an additional 8,348 shares during the period. Meyer Handelman Co.’s holdings in Sony Group were worth $221,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Sony Group by 400.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company’s stock valued at $32,000 after purchasing an additional 1,204 shares during the period. Park Avenue Securities LLC boosted its position in Sony Group by 515.7% during the 4th quarter. Park Avenue Securities LLC now owns 333,245 shares of the company’s stock valued at $7,051,000 after buying an additional 279,124 shares during the period. Kathmere Capital Management LLC bought a new stake in Sony Group in the 4th quarter worth $234,000. Seed Wealth Management Inc. grew its holdings in Sony Group by 400.0% in the 4th quarter. Seed Wealth Management Inc. now owns 26,075 shares of the company’s stock worth $552,000 after acquiring an additional 20,860 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Sony Group by 389.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 16,734 shares of the company’s stock valued at $354,000 after acquiring an additional 13,316 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Daiwa America raised Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Cowen dropped their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Oppenheimer cut their price target on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $24.00.

Sony Group Stock Up 3.0 %

SONY stock opened at $20.47 on Thursday. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $22.71. The company has a market capitalization of $123.80 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 12.41 and a beta of 0.95. The business’s 50 day moving average price is $20.34 and its two-hundred day moving average price is $12.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

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.