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

Cardinal Capital Management Inc. reduced its position in shares of Sony Group Co. (NYSE:SONY) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,595,810 shares of the company’s stock after selling 10,350 shares during the period. Sony Group makes up 1.4% of Cardinal Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. Cardinal Capital Management Inc.’s holdings in Sony Group were worth $40,518,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA raised its stake in Sony Group by 379.5% in the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares in the last quarter. Aristotle Capital Management LLC lifted its position in Sony Group by 393.7% during the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after purchasing an additional 42,083,842 shares during the period. Fisher Asset Management LLC raised its position in Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after acquiring an additional 36,783,737 shares during the period. Bank of America Corp DE raised its position in Sony Group by 377.7% in the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after acquiring an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI raised its position in shares of Sony Group by 377.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after purchasing an additional 8,157,776 shares during the period. 14.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. The Goldman Sachs Group assumed coverage on shares of Sony Group in a research report on Tuesday, March 25th. They issued a “buy” rating for the company. Finally, Wolfe Research reissued a “peer perform” rating on shares of Sony Group in a research report on Monday, April 7th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sony Group has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Sony Group Price Performance

Sony Group stock opened at $26.60 on Tuesday. Sony Group Co. has a 12-month low of $15.86 and a 12-month high of $26.95. The stock has a market cap of $160.87 billion, a P/E ratio of 21.59, a PEG ratio of 9.95 and a beta of 0.96. The company has a 50-day moving average price of $24.73 and a 200 day moving average price of $23.25. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group Company 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.