World Asset Management Inc cut its position in Sony Corp (NYSE:SNE) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,301 shares of the company’s stock after selling 5,689 shares during the quarter. World Asset Management Inc’s holdings in Sony were worth $1,959,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Lourd Capital LLC purchased a new position in shares of Sony in the third quarter valued at $362,000. We Are One Seven LLC purchased a new position in shares of Sony in the third quarter valued at $234,000. Atria Investments LLC grew its position in shares of Sony by 35.0% in the third quarter. Atria Investments LLC now owns 17,532 shares of the company’s stock valued at $1,063,000 after purchasing an additional 4,541 shares in the last quarter. Northern Trust Corp grew its position in shares of Sony by 8.9% in the second quarter. Northern Trust Corp now owns 1,273,141 shares of the company’s stock valued at $65,261,000 after purchasing an additional 104,499 shares in the last quarter. Finally, WCM Investment Management CA purchased a new position in shares of Sony in the second quarter valued at $204,000. Hedge funds and other institutional investors own 7.61% of the company’s stock.
Shares of NYSE SNE opened at $55.51 on Friday. The firm has a market capitalization of $76.63 billion, a PE ratio of 16.87, a P/E/G ratio of 2.05 and a beta of 1.41. Sony Corp has a fifty-two week low of $36.76 and a fifty-two week high of $61.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.80.
Sony (NYSE:SNE) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.44. The company had revenue of $1,953.62 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned $62.70 earnings per share. As a group, equities research analysts predict that Sony Corp will post 4.17 earnings per share for the current year.
Several brokerages have recently weighed in on SNE. ValuEngine cut Sony from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Credit Suisse Group upgraded Sony from a “neutral” rating to an “outperform” rating in a research report on Monday, September 10th. Finally, Zacks Investment Research upgraded Sony from a “sell” rating to a “hold” rating and set a $63.00 price target for the company in a research report on Friday, August 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $74.15.
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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