The Goldman Sachs Group Begins Coverage on Sony Group (NYSE:SONY)

Analysts at The Goldman Sachs Group assumed coverage on shares of Sony Group (NYSE:SONY) in a report released on Tuesday. The firm set a “buy” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Performance

NYSE:SONY opened at $25.50 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. Sony Group has a fifty-two week low of $15.02 and a fifty-two week high of $25.64. The firm’s fifty day simple moving average is $23.38 and its 200-day simple moving average is $19.30. The stock has a market cap of $154.19 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last announced 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. The business had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Analysts expect that Sony Group will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.