Massey Quick Simon & CO. LLC acquired a new stake in Sony Corp (NYSE:SNE) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $42,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Boston Partners increased its holdings in Sony by 42.6% in the fourth quarter. Boston Partners now owns 2,018,740 shares of the company’s stock valued at $97,464,000 after buying an additional 602,923 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Sony by 639.4% in the third quarter. Bank of New York Mellon Corp now owns 1,807,688 shares of the company’s stock valued at $109,636,000 after buying an additional 1,563,202 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in Sony in the fourth quarter valued at about $51,675,000. NorthCoast Asset Management LLC increased its holdings in Sony by 45.5% in the fourth quarter. NorthCoast Asset Management LLC now owns 581,890 shares of the company’s stock valued at $28,094,000 after buying an additional 181,864 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Sony by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 565,786 shares of the company’s stock valued at $27,316,000 after buying an additional 2,300 shares during the last quarter. 7.55% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on SNE shares. Zacks Investment Research raised Sony from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Thursday, January 17th. Macquarie lowered Sony from an “outperform” rating to a “neutral” rating in a report on Friday, February 1st. ValuEngine lowered Sony from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Jefferies Financial Group lowered Sony from a “buy” rating to a “hold” rating and lowered their price objective for the company from $77.62 to $44.04 in a report on Wednesday, March 20th. Finally, CLSA reissued a “buy” rating on shares of Sony in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Sony has a consensus rating of “Hold” and an average price target of $50.32.
Shares of SNE stock opened at $47.95 on Wednesday. Sony Corp has a 12-month low of $41.91 and a 12-month high of $61.02. The company has a market capitalization of $59.78 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.76.
Sony (NYSE:SNE) last issued its quarterly earnings data on Friday, February 1st. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $1.03. Sony had a return on equity of 20.21% and a net margin of 9.48%. The business had revenue of $2,401.81 billion during the quarter, compared to analyst estimates of $2,676.17 billion. During the same period in the prior year, the company posted $234.08 EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. Equities research analysts forecast that Sony Corp will post 6.07 EPS for the current fiscal year.
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Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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