BlackRock Inc. Trims Holdings in Sony Co. (SNE)

BlackRock Inc. cut its stake in Sony Co. (NYSE:SNE) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 943,305 shares of the company’s stock after selling 359,414 shares during the period. BlackRock Inc. owned approximately 0.07% of Sony worth $42,401,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jag Capital Management LLC bought a new stake in Sony in the 4th quarter valued at $11,390,000. Columbia Asset Management raised its stake in shares of Sony by 5.2% in the 4th quarter. Columbia Asset Management now owns 35,695 shares of the company’s stock valued at $1,604,000 after buying an additional 1,775 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Sony by 6.3% in the 3rd quarter. Stifel Financial Corp now owns 137,358 shares of the company’s stock valued at $5,133,000 after buying an additional 8,197 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Sony in the 4th quarter valued at $834,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Sony in the 4th quarter valued at $270,000. 6.98% of the stock is owned by hedge funds and other institutional investors.

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SNE has been the subject of a number of recent research reports. ValuEngine upgraded shares of Sony from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. Zacks Investment Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase cut shares of Sony from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Sony has a consensus rating of “Buy” and a consensus target price of $48.19.

Shares of SNE stock opened at $48.44 on Monday. Sony Co. has a 52-week low of $31.32 and a 52-week high of $53.91. The firm has a market capitalization of $61,206.70, a PE ratio of 94.98 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.16.

Sony (NYSE:SNE) last announced its earnings results on Friday, February 2nd. The company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.74. The business had revenue of $2,672.32 billion during the quarter, compared to analysts’ expectations of $2,560.40 billion. Sony had a net margin of 6.29% and a return on equity of 15.00%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $15.55 EPS. equities research analysts forecast that Sony Co. will post 3.86 earnings per share for the current year.

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About Sony

Sony Corporation designs, develops, manufactures, and sells electronic equipment, instruments, and devices for consumer, professional, and industrial markets worldwide. It offers LCD televisions, optical pickups, mobile phones, tablets, audio equipment and video conference systems, batteries, broadcast and professional-use video equipment, and DVD-players/recorders; and Blu-ray Disc players and recorders, ROMs, CDs, DVDs, and UMDs.

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Institutional Ownership by Quarter for Sony (NYSE:SNE)

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