Ferguson Wellman Capital Management Inc. Makes New $23.93 Million Investment in Sony Corporation $SONY

Ferguson Wellman Capital Management Inc. bought a new stake in Sony Corporation (NYSE:SONY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,156,193 shares of the company’s stock, valued at approximately $23,933,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC raised its stake in Sony by 3.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock worth $298,000 after purchasing an additional 409 shares during the period. Glenmede Investment Management LP raised its position in shares of Sony by 1.0% during the 3rd quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock valued at $1,223,000 after buying an additional 416 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its holdings in Sony by 1.1% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock valued at $1,033,000 after acquiring an additional 433 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in Sony by 2.5% in the fourth quarter. Nicolet Advisory Services LLC now owns 18,097 shares of the company’s stock valued at $456,000 after acquiring an additional 440 shares during the last quarter. Finally, 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 worth $30,000 after acquiring an additional 464 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Sony

In other Sony news, insider Toshimoto Mitomo sold 25,000 shares of the company’s stock in a transaction on Friday, July 3rd. The shares were sold at an average price of $21.02, for a total value of $525,500.00. Following the completion of the transaction, the insider owned 115,700 shares in the company, valued at $2,432,014. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hiroki Totoki sold 225,000 shares of Sony stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of $21.02, for a total value of $4,729,500.00. Following the sale, the chief executive officer owned 173,250 shares in the company, valued at $3,641,715. This trade represents a 56.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 771,838 shares of company stock valued at $16,866,580 over the last quarter. Insiders own 7.00% of the company’s stock.

Sony News Summary

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony received a lift from product and business expansion news, including approval to launch a Sony stablecoin and conditional approval for a U.S.-based stablecoin trust bank, which could support longer-term financial services growth. Sony Approved to Launch Sony Stablecoin
• Positive Sentiment: Sony also introduced the RX10 V bridge camera, with AI autofocus, 4K 120fps video and improved battery life, showing continued strength in premium imaging and electronics. Sony revives the RX10 with AI autofocus, 4K 120fps, and a longer-lasting battery
• Positive Sentiment: Sony Classics secured distribution rights to the Javier Bardem and Penélope Cruz thriller Bunker, a modestly positive reminder of Sony’s content pipeline. Javier Bardem & Penélope Cruz Thriller ‘Bunker’ Sells To Sony Classics

Sony Stock Down 0.4%

Shares of NYSE SONY traded down $0.07 during mid-day trading on Friday, hitting $20.86. The company had a trading volume of 4,625,402 shares, compared to its average volume of 4,968,140. Sony Corporation has a 1-year low of $19.32 and a 1-year high of $30.34. The company has a market capitalization of $123.21 billion, a PE ratio of -104.27, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94. The business’s 50-day simple moving average is $21.19 and its 200 day simple moving average is $21.98.

Sony (NYSE:SONY) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $18.43 billion. During the same period in the prior year, the business earned $32.86 EPS. Sony’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Sony Corporation will post 1.28 earnings per share for the current year.

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.