Sony Group (NYSE:SONY) Sets New 52-Week High – Still a Buy?

Sony Group Co. (NYSE:SONY) hit a new 52-week high on Tuesday . The stock traded as high as $25.30 and last traded at $25.20, with a volume of 11195 shares changing hands. The stock had previously closed at $24.80.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sony Group currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Price Performance

The firm has a 50-day moving average price of $21.81 and a 200 day moving average price of $16.19. The stock has a market capitalization of $151.40 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. On average, analysts expect that Sony Group Co. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Sony Group

A number of large investors have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its holdings in shares of Sony Group by 379.5% during the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares during the period. Aristotle Capital Management LLC increased its position in shares of Sony Group by 393.7% during the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after buying an additional 42,083,842 shares during the period. Fisher Asset Management LLC lifted its position in Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock valued at $961,089,000 after acquiring an additional 36,783,737 shares during the period. Bank of America Corp DE increased its holdings in shares of Sony Group by 377.7% in the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after purchasing an additional 18,821,902 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its position in Sony Group by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock worth $218,382,000 after buying an additional 8,157,776 shares during the last quarter. 14.05% of the stock is 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.