Scharf Investments LLC Purchases 680 Shares of Sony Group Co. (NYSE:SONY)

Scharf Investments LLC increased its position in shares of Sony Group Co. (NYSE:SONY) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,323 shares of the company’s stock after buying an additional 680 shares during the quarter. Scharf Investments LLC’s holdings in Sony Group were worth $1,571,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its stake in Sony Group by 2,317.1% in the fourth quarter. SG Americas Securities LLC now owns 54,143 shares of the company’s stock valued at $5,127,000 after purchasing an additional 51,903 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Sony Group by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock valued at $50,406,000 after buying an additional 23,724 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Sony Group by 290.8% in the fourth quarter. Fifth Third Bancorp now owns 44,095 shares of the company’s stock valued at $4,175,000 after buying an additional 32,811 shares during the last quarter. US Bancorp DE lifted its position in shares of Sony Group by 75.3% in the fourth quarter. US Bancorp DE now owns 128,351 shares of the company’s stock valued at $12,154,000 after buying an additional 55,129 shares during the last quarter. Finally, Everpar Advisors LLC acquired a new stake in shares of Sony Group in the fourth quarter valued at approximately $907,000. 14.05% of the stock is currently owned by institutional investors.

Sony Group Stock Up 1.7 %

NYSE:SONY traded up $1.42 on Thursday, hitting $84.28. The stock had a trading volume of 802,085 shares, compared to its average volume of 847,351. The business’s fifty day moving average is $82.09 and its 200 day moving average is $87.83. The company has a market cap of $104.02 billion, a PE ratio of 15.23 and a beta of 0.95. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 0.27. Sony Group Co. has a 52 week low of $75.11 and a 52 week high of $100.88.

Sony Group (NYSE:SONY) last posted its earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Sony Group had a return on equity of 13.05% and a net margin of 7.95%. The company had revenue of $23.45 billion for the quarter, compared to analyst estimates of $18.97 billion. During the same quarter last year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Sony Group Co. will post 5.6 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Sony Group has a consensus rating of “Moderate Buy” and an average price target of $108.00.

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.