Royal Bank of Canada Buys 4,674,249 Shares of Sony Group Co. (NYSE:SONY)

Royal Bank of Canada boosted its stake in shares of Sony Group Co. (NYSE:SONY) by 416.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,796,210 shares of the company’s stock after purchasing an additional 4,674,249 shares during the period. Royal Bank of Canada’s holdings in Sony Group were worth $122,649,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its position 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 acquiring an additional 80,724,932 shares during the period. Aristotle Capital Management LLC raised its position in Sony Group by 393.7% during the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after purchasing an additional 42,083,842 shares in the last quarter. Fisher Asset Management LLC raised 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 purchasing an additional 36,783,737 shares in the last quarter. Bank of America Corp DE grew its position in shares of Sony Group by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after buying an additional 18,821,902 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its stake in shares of Sony Group by 377.2% during the fourth quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after buying an additional 8,157,776 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SONY. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a report on Monday, April 7th. 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. StockNews.com upgraded Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group assumed coverage on Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sony Group presently has an average rating of “Buy” and an average price target of $28.00.

Sony Group Trading Down 0.8%

NYSE SONY opened at $24.67 on Monday. Sony Group Co. has a 52 week low of $15.67 and a 52 week high of $26.08. The company has a 50 day moving average price of $24.32 and a 200 day moving average price of $22.41. 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 cap of $149.18 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97.

Sony Group Company Profile

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.