Sony Group Co. (NYSE:SONY) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in Sony Group Co. (NYSE:SONY) by 30.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 634,682 shares of the company’s stock after selling 282,125 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.05% of Sony Group worth $53,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Sony Group during the second quarter valued at about $26,000. Sunbelt Securities Inc. purchased a new stake in Sony Group during the first quarter valued at about $29,000. Rise Advisors LLC grew its position 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 acquiring an additional 254 shares during the period. Ridgewood Investments LLC purchased a new stake in Sony Group during the second quarter valued at about $41,000. Finally, Family Firm Inc. purchased a new stake in Sony Group during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

Shares of NYSE SONY opened at $93.09 on Monday. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The business has a 50-day moving average of $90.94 and a 200-day moving average of $86.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The company has a market capitalization of $114.89 billion, a price-to-earnings ratio of 17.11 and a beta of 0.95.

Sony Group shares are scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, September 30th.

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

Analyst Upgrades and Downgrades

SONY has been the subject of a number of research reports. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.