Minneapolis Portfolio Management Group LLC Sells 6,638 Shares of Sony Group Co. (NYSE:SONY)

Minneapolis Portfolio Management Group LLC lessened its stake in Sony Group Co. (NYSE:SONY) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 322,346 shares of the company’s stock after selling 6,638 shares during the quarter. Sony Group comprises 4.0% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 10th largest holding. Minneapolis Portfolio Management Group LLC’s holdings in Sony Group were worth $31,129,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SONY. American National Bank boosted its position in shares of Sony Group by 11.3% during the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after acquiring an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Sony Group by 1.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after purchasing an additional 124 shares during the last quarter. Belpointe Asset Management LLC increased its stake in Sony Group by 1.4% in the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after purchasing an additional 128 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Sony Group by 1.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after buying an additional 140 shares during the last quarter. Finally, Wealth Alliance boosted its holdings in shares of Sony Group by 1.2% in the 2nd quarter. Wealth Alliance now owns 11,977 shares of the company’s stock valued at $1,017,000 after buying an additional 141 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Cowen cut their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Daiwa America raised Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.66.

Sony Group Stock Performance

Sony Group stock traded up $0.13 during midday trading on Friday, hitting $17.73. 1,581,125 shares of the company’s stock were exchanged, compared to its average volume of 2,356,969. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The stock has a market cap of $107.23 billion, a price-to-earnings ratio of 16.42 and a beta of 0.95. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $20.18. The firm’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $6.10.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. Equities research analysts predict that Sony Group Co. will post 1.12 EPS for the current year.

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.