Bank Julius Baer & Co. Ltd Zurich Buys New Holdings in Sony Group Co. (NYSE:SONY)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in Sony Group Co. (NYSE:SONY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,744 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position 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 valued at $961,089,000 after buying an additional 36,783,737 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Sony Group during the 4th quarter worth approximately $36,964,000. Cardinal Capital Management Inc. increased its holdings in Sony Group by 403.7% during the 4th quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after purchasing an additional 1,287,259 shares in the last quarter. Cambiar Investors LLC increased its holdings in Sony Group by 548.9% during the 4th quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock worth $22,414,000 after purchasing an additional 896,013 shares in the last quarter. Finally, Pictet North America Advisors SA increased its holdings in Sony Group by 333.4% during the 4th quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company’s stock worth $22,375,000 after purchasing an additional 813,429 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on SONY. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, Sanford C. Bernstein began coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sony Group presently has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Performance

SONY stock opened at $22.95 on Wednesday. The firm has a market cap of $138.76 billion, a PE ratio of 18.62, a P/E/G ratio of 9.95 and a beta of 0.91. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $22.51 and a 200-day moving average of $17.80. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.64.

Sony Group (NYSE:SONY) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The company had revenue of $28.95 billion during 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%. As a group, sell-side analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

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.