Sony Corporation (NYSE:SONY) Stake Trimmed by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC reduced its holdings in shares of Sony Corporation (NYSE:SONY) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,601,019 shares of the company’s stock after selling 31,968 shares during the period. Sony comprises 5.6% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 2nd largest holding. Minneapolis Portfolio Management Group LLC’s holdings in Sony were worth $40,650,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Forum Financial Management LP increased its holdings in Sony by 536.0% in the fourth quarter. Forum Financial Management LP now owns 115,250 shares of the company’s stock valued at $2,439,000 after buying an additional 97,130 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Sony by 435.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 582,400 shares of the company’s stock worth $12,323,000 after purchasing an additional 473,700 shares during the last quarter. BSW Wealth Partners grew its holdings in shares of Sony by 87.0% during the first quarter. BSW Wealth Partners now owns 26,662 shares of the company’s stock worth $677,000 after purchasing an additional 12,404 shares during the last quarter. Aviso Financial Inc. boosted its stake in shares of Sony by 393.3% during the fourth quarter. Aviso Financial Inc. now owns 77,700 shares of the company’s stock worth $1,644,000 after buying an additional 61,950 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Sony by 386.6% during the fourth quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company’s stock worth $19,424,000 after buying an additional 729,218 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Sony from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Sony in a research report on Monday, April 7th. Finally, The Goldman Sachs Group assumed coverage on Sony in a research report on Tuesday, March 25th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Sony Stock Down 0.4%

SONY stock opened at $25.60 on Friday. The stock has a market capitalization of $154.82 billion, a P/E ratio of 20.75, a PEG ratio of 12.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.70. Sony Corporation has a one year low of $15.96 and a one year high of $26.95. The company has a 50 day moving average price of $25.62 and a two-hundred day moving average price of $23.87.

About Sony

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.