Gabelli Funds LLC Has $113.37 Million Holdings in Sony Group Co. (NYSE:SONY)

Gabelli Funds LLC trimmed its stake in Sony Group Co. (NYSE:SONY) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334,489 shares of the company’s stock after selling 34,010 shares during the quarter. Sony Group accounts for 0.9% of Gabelli Funds LLC’s portfolio, making the stock its 19th largest position. Gabelli Funds LLC owned about 0.11% of Sony Group worth $113,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Sony Group during the 2nd quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in Sony Group during the first quarter worth $29,000. Rise Advisors LLC raised its holdings in Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after buying an additional 254 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Sony Group in the second quarter worth about $41,000. Finally, Family Firm Inc. acquired a new stake in shares of Sony Group in the second quarter worth about $44,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Stock Down 0.2 %

NYSE SONY opened at $93.09 on Friday. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. 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 $114.89 billion, a PE ratio of 17.11 and a beta of 0.95. The firm has a 50-day simple moving average of $90.94 and a 200 day simple moving average of $86.57.

Sony Group’s stock is set to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, research analysts forecast that Sony Group Co. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on SONY shares. Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group 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.