CIBC Asset Management Inc Buys 60,578 Shares of Sony Corporation $SONY

CIBC Asset Management Inc raised its stake in Sony Corporation (NYSE:SONY) by 295.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 81,111 shares of the company’s stock after acquiring an additional 60,578 shares during the quarter. CIBC Asset Management Inc’s holdings in Sony were worth $2,058,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. YANKCOM Partnership grew its position in Sony by 748.7% in the fourth quarter. YANKCOM Partnership now owns 976 shares of the company’s stock valued at $25,000 after acquiring an additional 861 shares during the period. Ameriflex Group Inc. grew its position in Sony by 304.0% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares during the period. Binnacle Investments Inc grew its position in Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after acquiring an additional 464 shares during the period. V Square Quantitative Management LLC bought a new stake in Sony in the fourth quarter valued at $27,000. Finally, Elyxium Wealth LLC bought a new stake in Sony in the fourth quarter valued at $27,000. 14.05% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Tsuyoshi Kodera sold 17,500 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $22.61, for a total transaction of $395,675.00. Following the completion of the transaction, the insider directly owned 27,553 shares in the company, valued at approximately $622,973.33. This trade represents a 38.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenichiro Yoshida sold 400,000 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $22.61, for a total value of $9,044,000.00. Following the transaction, the director owned 661,615 shares of the company’s stock, valued at approximately $14,959,115.15. The trade was a 37.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.00% of the stock is owned by corporate insiders.

Key Sony News

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony is generating interest around its consumer electronics lineup, including a new WH-1000XM6 sandstone edition in India, strong reviews for its 1000X headphones, and discussion of its next-generation TV technology with True RGB, which could support sentiment around its premium audio and TV businesses.
• Positive Sentiment: The company also received a fresh investment in IP-focused Midnight Labs, reinforcing Sony’s strategy of backing intellectual-property-driven entertainment opportunities. Article Title
• Positive Sentiment: New gaming chatter around God of War and future Kratos-related titles keeps Sony’s PlayStation ecosystem in the spotlight, which may help investor confidence in its games portfolio.
• Neutral Sentiment: Several articles were mostly product-spotlight pieces, such as Sony’s RIALTO 65 cinema camera, the A7R VI camera discussion, and a look back at Sony’s first DSLR; these are supportive of the brand but are unlikely to move the stock on their own. Article Title
• Negative Sentiment: Gaming commentary also included criticism that Sony is “losing its grip on third parties” and that its broader “formula problem” remains an issue, which could weigh on sentiment toward the PlayStation business.
• Negative Sentiment: A report that a PS5 follow-up to a beloved PS2 game was suddenly delisted may add a little negative noise around Sony’s game publishing execution.

Sony Price Performance

Sony stock opened at $21.91 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The firm has a market cap of $130.32 billion, a P/E ratio of -109.52, a P/E/G ratio of 1.72 and a beta of 0.93. The business’s fifty day moving average is $21.31 and its two-hundred day moving average is $23.22. Sony Corporation has a 52 week low of $19.63 and a 52 week high of $30.34.

Sony (NYSE:SONY) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The business had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.43 billion. During the same period in the prior year, the firm posted $32.86 EPS. Sony’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Sony Corporation will post 1.3 earnings per share for the current fiscal year.

Sony Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, March 30th will be issued a $0.0796 dividend. This represents a dividend yield of 80.0%. The ex-dividend date is Monday, March 30th. Sony’s dividend payout ratio is -55.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SONY shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Benchmark reiterated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a research report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sony currently has an average rating of “Hold” and an average price target of $22.00.

Sony Company Profile

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.