Wells Fargo & Company MN boosted its stake in shares of Sony Corp (NYSE:SNE) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 830,643 shares of the company’s stock after purchasing an additional 15,136 shares during the period. Wells Fargo & Company MN’s holdings in Sony were worth $42,579,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SNE. Summit Trail Advisors LLC raised its stake in Sony by 61,642.4% in the first quarter. Summit Trail Advisors LLC now owns 1,450,328 shares of the company’s stock valued at $1,450,000 after buying an additional 1,447,979 shares during the period. Northern Trust Corp raised its stake in Sony by 3.3% in the first quarter. Northern Trust Corp now owns 1,168,642 shares of the company’s stock valued at $56,492,000 after buying an additional 37,824 shares during the period. Aperio Group LLC raised its stake in Sony by 1.0% in the second quarter. Aperio Group LLC now owns 734,893 shares of the company’s stock valued at $37,671,000 after buying an additional 7,471 shares during the period. Gluskin Sheff & Assoc Inc. bought a new stake in Sony in the first quarter valued at approximately $35,057,000. Finally, NorthCoast Asset Management LLC raised its stake in Sony by 552.0% in the first quarter. NorthCoast Asset Management LLC now owns 620,542 shares of the company’s stock valued at $29,997,000 after buying an additional 525,372 shares during the period. 6.96% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Sony from a “sell” rating to a “hold” rating and set a $63.00 price objective on the stock in a research note on Friday, August 3rd. ValuEngine lowered Sony from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, UBS Group lowered Sony from a “buy” rating to a “neutral” rating in a research note on Monday, May 7th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.74.
Shares of NYSE SNE opened at $54.87 on Friday. The company has a market cap of $69.05 billion, a PE ratio of 16.68, a PEG ratio of 1.87 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.92. Sony Corp has a 1-year low of $36.25 and a 1-year high of $55.82.
Sony (NYSE:SNE) last announced its earnings results on Tuesday, July 31st. The company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.44. The company had revenue of $1,953.62 billion for the quarter, compared to analyst estimates of $1,882.28 billion. Sony had a return on equity of 16.74% and a net margin of 7.32%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $62.70 earnings per share. equities research analysts predict that Sony Corp will post 4.11 earnings per share for the current year.
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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