Comerica Bank Buys 781 Shares of Sony Group Co. (NYSE:SONY)

Comerica Bank raised its stake in Sony Group Co. (NYSE:SONYGet Rating) by 3.1% during the third quarter, HoldingsChannel.com reports. The fund owned 25,690 shares of the company’s stock after purchasing an additional 781 shares during the quarter. Comerica Bank’s holdings in Sony Group were worth $1,673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in shares of Sony Group in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC increased its holdings in shares of Sony Group by 96.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 588 shares of the company’s stock worth $48,000 after buying an additional 288 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Sony Group in the 1st quarter worth about $61,000. Private Trust Co. NA bought a new stake in shares of Sony Group in the 2nd quarter worth about $51,000. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Sony Group in the 2nd quarter worth about $68,000. 7.74% of the stock is currently owned by institutional investors.

Sony Group Price Performance

Shares of SONY opened at $89.29 on Friday. The company has a 50 day moving average price of $80.84 and a 200-day moving average price of $77.99. Sony Group Co. has a fifty-two week low of $61.72 and a fifty-two week high of $119.00. The stock has a market capitalization of $110.45 billion, a PE ratio of 14.64, a PEG ratio of 2.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.58.

Sony Group (NYSE:SONYGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.47. Sony Group had a net margin of 9.05% and a return on equity of 12.23%. The firm had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $21.17 billion. Equities analysts predict that Sony Group Co. will post 5.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SONY has been the topic of a number of research reports. Cowen reduced their target price on shares of Sony Group from $144.00 to $102.00 in a report on Wednesday, November 2nd. StockNews.com initiated coverage on shares of Sony Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Cowen dropped their price target on shares of Sony Group from $144.00 to $102.00 in a research note on Wednesday, November 2nd. Finally, TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a research note on Monday, December 5th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Sony Group currently has a consensus rating of “Hold” and a consensus price target of $109.67.

About Sony Group

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Sony Group Corp. engages in the development, design, manufacture, and sale of electronic equipment, instruments, devices, game consoles, and software for consumers, professionals and industrial markets. It operates through the following segments: Game and Network Services, Music, Pictures, Home Entertainment and Sound, Imaging Products and Solutions, Mobile Communications, Semiconductors, Financial Services, and Others.

Further Reading

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Institutional Ownership by Quarter for Sony Group (NYSE:SONY)

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