Sony Corporation $SONY Stake Boosted by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of Sony Corporation (NYSE:SONY) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 743,700 shares of the company’s stock after acquiring an additional 57,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Sony were worth $21,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SONY. Flow Traders U.S. LLC acquired a new position in shares of Sony during the second quarter worth approximately $1,228,000. Sumitomo Mitsui Trust Group Inc. increased its position in Sony by 14.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 760,207 shares of the company’s stock worth $21,886,000 after acquiring an additional 95,077 shares during the period. JCIC Asset Management Inc. bought a new position in Sony during the third quarter worth $4,371,000. Thrivent Financial for Lutherans raised its stake in Sony by 7,377.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,274 shares of the company’s stock valued at $97,145,000 after purchasing an additional 3,329,147 shares during the last quarter. Finally, Factory Mutual Insurance Co. bought a new stake in Sony in the 3rd quarter valued at $4,811,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SONY. Wall Street Zen upgraded shares of Sony to a “hold” rating in a report on Saturday, December 6th. Nomura raised Sony from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 19th. Weiss Ratings lowered Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of Sony in a report on Wednesday, January 14th. Finally, Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Sony Stock Performance

NYSE:SONY opened at $21.56 on Wednesday. The firm has a market capitalization of $130.39 billion, a PE ratio of -107.79, a price-to-earnings-growth ratio of 8.06 and a beta of 0.94. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. Sony Corporation has a 12-month low of $20.42 and a 12-month high of $30.34. The firm has a 50-day moving average price of $23.51 and a 200 day moving average price of $26.67.

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.