Bank of New York Mellon Corp lowered its stake in Sony Corp (NYSE:SNE) by 82.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,486 shares of the company’s stock after selling 1,151,614 shares during the period. Bank of New York Mellon Corp’s holdings in Sony were worth $12,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Credit Agricole S A acquired a new stake in Sony in the 2nd quarter valued at about $146,000. Advisors Asset Management Inc. acquired a new stake in shares of Sony during the 2nd quarter worth about $510,000. AE Wealth Management LLC acquired a new stake in shares of Sony during the 2nd quarter worth about $204,000. Sawtooth Solutions LLC acquired a new stake in shares of Sony during the 2nd quarter worth about $247,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of Sony during the 2nd quarter worth about $265,000. 7.64% of the stock is currently owned by institutional investors.
SNE has been the topic of several research analyst reports. Credit Suisse Group raised Sony from a “neutral” rating to an “outperform” rating in a research report on Monday, September 10th. ValuEngine raised Sony from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Piper Jaffray Companies reissued an “overweight” rating on shares of Sony in a research report on Friday, October 19th. Zacks Investment Research lowered Sony from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Citigroup raised Sony from a “neutral” rating to a “buy” rating and set a $52.91 target price on the stock in a research report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $67.07.
Shares of NYSE SNE opened at $51.13 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Sony Corp has a fifty-two week low of $44.37 and a fifty-two week high of $61.02. The stock has a market cap of $65.09 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.62.
Sony (NYSE:SNE) last issued its earnings results on Tuesday, October 30th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.29. Sony had a return on equity of 17.19% and a net margin of 7.70%. The business had revenue of $19.58 billion for the quarter. Equities analysts forecast that Sony Corp will post 4.54 EPS for the current year.
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Sony Company Profile
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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