Cardinal Capital Management Inc. Trims Stock Holdings in Sony Group Co. (NYSE:SONY)

Cardinal Capital Management Inc. lowered its holdings in Sony Group Co. (NYSE:SONY) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 299,298 shares of the company’s stock after selling 1,930 shares during the period. Sony Group comprises 1.4% of Cardinal Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Cardinal Capital Management Inc.’s holdings in Sony Group were worth $26,949,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fisher Asset Management LLC raised its stake in Sony Group by 5.3% during the first quarter. Fisher Asset Management LLC now owns 5,300,328 shares of the company’s stock valued at $480,475,000 after buying an additional 264,458 shares in the last quarter. Bank of America Corp DE raised its stake in Sony Group by 27.2% during the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock valued at $402,598,000 after buying an additional 949,271 shares in the last quarter. Morgan Stanley raised its stake in Sony Group by 6.9% during the fourth quarter. Morgan Stanley now owns 4,059,644 shares of the company’s stock valued at $309,670,000 after buying an additional 263,316 shares in the last quarter. Fiduciary Management Inc. WI raised its stake in Sony Group by 2.1% during the fourth quarter. Fiduciary Management Inc. WI now owns 3,469,561 shares of the company’s stock valued at $264,658,000 after buying an additional 71,357 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Sony Group by 76.5% during the first quarter. BlackRock Inc. now owns 2,649,244 shares of the company’s stock valued at $240,154,000 after buying an additional 1,148,165 shares in the last quarter. Hedge funds and other institutional investors own 8.02% of the company’s stock.

Sony Group Stock Performance

Shares of NYSE SONY traded up $0.26 during mid-day trading on Friday, hitting $86.76. The company had a trading volume of 490,265 shares, compared to its average volume of 621,440. The stock has a market cap of $107.06 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 3.60 and a beta of 1.04. Sony Group Co. has a 12 month low of $61.72 and a 12 month high of $100.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.65 and a quick ratio of 0.47. The firm’s 50 day simple moving average is $87.64 and its two-hundred day simple moving average is $90.37.

Analyst Ratings Changes

SONY has been the topic of several research reports. TheStreet cut Sony Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. The Goldman Sachs Group raised Sony Group from a “neutral” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, StockNews.com started coverage on Sony Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

About Sony Group

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.