Sony Corp. (SNE) Position Reduced by SOL Capital Management CO
SOL Capital Management CO cut its stake in Sony Corp. (NYSE:SNE) by 12.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,397 shares of the company’s stock after selling 5,200 shares during the period. SOL Capital Management CO’s holdings in Sony Corp. were worth $1,068,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in Sony Corp. during the second quarter valued at about $1,124,000. First New York Securities LLC NY purchased a new stake in Sony Corp. during the second quarter valued at about $986,000. Aviance Capital Management LLC raised its stake in Sony Corp. by 22.2% in the second quarter. Aviance Capital Management LLC now owns 29,613 shares of the company’s stock valued at $869,000 after buying an additional 5,383 shares during the last quarter. Bank of Montreal Can purchased a new stake in Sony Corp. during the second quarter valued at about $945,000. Finally, RNC Capital Management LLC purchased a new stake in Sony Corp. during the second quarter valued at about $333,000. Hedge funds and other institutional investors own 6.60% of the company’s stock.
Sony Corp. (NYSE:SNE) traded down 1.14% during midday trading on Friday, reaching $32.89. 1,166,183 shares of the company’s stock traded hands. Sony Corp. has a one year low of $19.90 and a one year high of $34.17. The stock’s 50 day moving average price is $32.87 and its 200-day moving average price is $29.55. The stock has a market cap of $41.49 billion, a PE ratio of 50.76 and a beta of 1.85.
Sony Corp. (NYSE:SNE) last announced its quarterly earnings data on Friday, July 29th. The company reported $16.44 EPS for the quarter, beating the consensus estimate of ($0.28) by $16.72. The business earned $1,613.20 billion during the quarter, compared to analyst estimates of $1,682.98 billion. Sony Corp. had a return on equity of 2.52% and a net margin of 1.02%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $70.52 earnings per share. Equities analysts predict that Sony Corp. will post $0.63 earnings per share for the current year.
Several research firms have recently issued reports on SNE. Zacks Investment Research upgraded shares of Sony Corp. from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research note on Wednesday, September 28th. Vetr upgraded shares of Sony Corp. from a “sell” rating to a “buy” rating and set a $35.49 target price for the company in a research note on Tuesday, September 6th. TheStreet upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Deutsche Bank AG upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Sony Corp. in a research report on Thursday, June 30th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.25.
Sony Corp. Company Profile
Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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