Clearbridge Investments LLC Reduces Stake in Sony Corporation $SONY

Clearbridge Investments LLC lessened its stake in shares of Sony Corporation (NYSE:SONY) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,608,050 shares of the company’s stock after selling 253,415 shares during the quarter. Clearbridge Investments LLC owned about 0.09% of Sony worth $143,566,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. YANKCOM Partnership boosted its holdings in shares of Sony by 748.7% during the fourth quarter. YANKCOM Partnership now owns 976 shares of the company’s stock worth $25,000 after purchasing an additional 861 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in shares of Sony by 304.0% during the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $29,000 after purchasing an additional 760 shares during the last quarter. Binnacle Investments Inc boosted its holdings in shares of Sony by 81.7% during the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock worth $30,000 after purchasing an additional 464 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Sony during the fourth quarter worth $27,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Sony during the fourth quarter worth $27,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Sony Trading Up 0.1%

NYSE:SONY opened at $21.91 on Monday. The business’s 50-day moving average is $21.31 and its two-hundred day moving average is $23.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94. Sony Corporation has a 12 month low of $19.63 and a 12 month high of $30.34. The firm has a market capitalization of $130.32 billion, a PE ratio of -109.52, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93.

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

Sony Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, March 30th will be given a $0.0796 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a yield of 80.0%. Sony’s dividend payout ratio (DPR) is -55.00%.

Key Headlines Impacting Sony

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.

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.