TD Waterhouse Canada Inc. lifted its stake in shares of Sony Corporation (NYSE:SONY – Free Report) by 10.6% during the second quarter, HoldingsChannel.com reports. The firm owned 471,304 shares of the company’s stock after purchasing an additional 44,980 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Sony were worth $9,530,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in SONY. Concurrent Investment Advisors LLC grew its holdings in Sony by 23.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 29,848 shares of the company’s stock valued at $599,000 after buying an additional 5,666 shares in the last quarter. Continuum Advisory LLC bought a new stake in shares of Sony during the second quarter valued at about $117,000. Rehmann Capital Advisory Group lifted its holdings in shares of Sony by 11.8% in the second quarter. Rehmann Capital Advisory Group now owns 23,092 shares of the company’s stock worth $466,000 after buying an additional 2,438 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Sony in the second quarter worth about $10,232,000. Finally, Trust Co. of Vermont bought a new position in shares of Sony in the second quarter valued at approximately $90,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.
Wall Street Analyst Weigh In
SONY has been the subject of several recent analyst reports. Wall Street Zen cut shares of Sony from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a report on Monday, August 17th. Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Benchmark reaffirmed a “buy” rating on shares of Sony in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.
Sony Price Performance
Shares of NYSE:SONY opened at $24.56 on Friday. The company’s fifty day moving average price is $22.55 and its 200-day moving average price is $21.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 0.97. The firm has a market capitalization of $145.10 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.77 and a beta of 0.93. Sony Corporation has a one year low of $19.32 and a one year high of $30.34.
Sony (NYSE:SONY – Get Free Report) last posted its quarterly earnings data on Saturday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. Sony had a negative net margin of 2.00% and a positive return on equity of 13.06%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.17 billion. During the same period in the previous year, the firm posted $42.84 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Sony Corporation will post 1.41 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Robert Adrian Stringer sold 545,547 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.49, for a total value of $12,269,352.03. Following the completion of the transaction, the insider directly owned 100,547 shares in the company, valued at approximately $2,261,302.03. This represents a 84.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ravi Ahuja sold 15,580 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.71, for a total value of $353,821.80. Following the transaction, the insider owned 22,096 shares in the company, valued at $501,800.16. This trade represents a 41.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 952,565 shares of company stock valued at $20,915,191. 7.00% of the stock is owned by insiders.
More Sony News
Here are the key news stories impacting Sony this week:
- Positive Sentiment: Analysts remain broadly optimistic about Sony, potentially supporting the stock’s valuation and investor confidence. Is Sony a Buy as Wall Street Analysts Look Optimistic?
- Positive Sentiment: Sony announced limited-edition Grand Theft Auto VI-themed DualSense controllers, with pre-orders opening September 10. The product could generate incremental PlayStation accessory sales and benefit from the major game franchise’s popularity. Pre-orders for Sony’s GTA 6-themed DualSense controllers
- Positive Sentiment: Sony’s BRAVIA Theatre Trio received a favorable review for delivering immersive sound in large rooms, providing positive visibility for its home-entertainment hardware business. Sony BRAVIA Theatre Trio review
- Neutral Sentiment: Sony’s Labor Day promotions include significant discounts on headphones, soundbars, TVs, and speakers. The offers may stimulate sales but could also pressure hardware margins. Sony’s Labor Day sale
- Neutral Sentiment: Sony dated the release of the Indian film Ramayana, adding a future entertainment-industry catalyst, although financial details were not reported. Sony Dates Indian Epic Ramayana For Release
- Negative Sentiment: Sony agreed to a $7.85 million PlayStation settlement, while separately seeking dismissal of lawsuits concerning tariff refunds. These legal matters create financial and reputational overhang, even though the settlement appears manageable relative to Sony’s size. Sony agrees to PlayStation settlement
- Negative Sentiment: Consumer lawsuits over digital-game ownership and criticism from PS5 users could increase regulatory, legal, or customer-retention risks for the PlayStation business. Sony’s defense against a digital ownership lawsuit
About Sony
Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.
Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.
Featured Stories
- Five stocks we like better than Sony
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Want to see what other hedge funds are holding SONY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sony Corporation (NYSE:SONY – Free Report).
Receive News & Ratings for Sony Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sony and related companies with MarketBeat.com's FREE daily email newsletter.
