Evergreen Capital Management LLC Boosts Stock Position in Sony Group Co. (NYSE:SONY)

Evergreen Capital Management LLC increased its position in Sony Group Co. (NYSE:SONY) by 459.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,127 shares of the company’s stock after acquiring an additional 38,707 shares during the quarter. Evergreen Capital Management LLC’s holdings in Sony Group were worth $997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its position in shares of Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after purchasing an additional 80,724,932 shares during the period. Fisher Asset Management LLC raised its holdings in Sony Group by 425.9% during the fourth 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. Mondrian Investment Partners LTD lifted its position in shares of Sony Group by 358.2% in the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after acquiring an additional 7,925,643 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Sony Group by 401.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,141,717 shares of the company’s stock worth $151,119,000 after acquiring an additional 5,718,378 shares during the period. Finally, Gabelli Funds LLC grew its position in shares of Sony Group by 389.3% during the fourth quarter. Gabelli Funds LLC now owns 6,369,581 shares of the company’s stock worth $134,780,000 after purchasing an additional 5,067,835 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SONY. The Goldman Sachs Group initiated coverage on Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating on the stock. 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 reiterated a “peer perform” rating on shares of Sony Group in a report on Monday, April 7th. Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sony Group currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Sony Group Price Performance

SONY stock opened at $24.02 on Friday. The company has a fifty day simple moving average of $24.01 and a two-hundred day simple moving average of $21.42. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $25.78. 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 firm has a market capitalization of $145.23 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The company had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current fiscal 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.