Sony Corp (SNE) Stake Cut by Berkshire Asset Management LLC PA
Berkshire Asset Management LLC PA lowered its position in Sony Corp (NYSE:SNE) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,790 shares of the company’s stock after selling 1,050 shares during the period. Berkshire Asset Management LLC PA’s holdings in Sony Corp were worth $398,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Sony Corp by 22.1% in the fourth quarter. FMR LLC now owns 5,160,964 shares of the company’s stock worth $144,662,000 after buying an additional 934,392 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Sony Corp by 199.2% in the third quarter. TIAA CREF Investment Management LLC now owns 642,554 shares of the company’s stock worth $21,339,000 after buying an additional 427,808 shares during the period. Teachers Advisors LLC raised its stake in shares of Sony Corp by 28.1% in the third quarter. Teachers Advisors LLC now owns 873,755 shares of the company’s stock worth $29,017,000 after buying an additional 191,779 shares during the period. Sanoor Capital Management LP acquired a new stake in shares of Sony Corp during the fourth quarter worth approximately $4,221,000. Finally, Conatus Capital Management LP raised its stake in shares of Sony Corp by 41.5% in the third quarter. Conatus Capital Management LP now owns 500,359 shares of the company’s stock worth $16,617,000 after buying an additional 146,651 shares during the period. Institutional investors and hedge funds own 6.53% of the company’s stock.
Sony Corp (NYSE:SNE) traded down 1.0025% during mid-day trading on Tuesday, reaching $31.5208. The company’s stock had a trading volume of 291,310 shares. The firm’s market cap is $39.79 billion. Sony Corp has a 12-month low of $23.62 and a 12-month high of $34.17. The company has a 50-day moving average price of $31.92 and a 200-day moving average price of $30.89.
Sony Corp (NYSE:SNE) last posted its earnings results on Thursday, February 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.25. Sony Corp had a negative return on equity of 1.27% and a negative net margin of 0.52%. The firm had revenue of $2,397.50 billion for the quarter, compared to analysts’ expectations of $22.35 billion. During the same quarter last year, the company posted $95.33 EPS. The firm’s revenue was down 7.1% on a year-over-year basis. On average, equities research analysts expect that Sony Corp will post $0.38 earnings per share for the current year.
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SNE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Sony Corp from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. TheStreet upgraded Sony Corp from a “c+” rating to a “b-” rating in a report on Tuesday, February 21st. Finally, Jefferies Group LLC set a $42.00 price target on Sony Corp and gave the stock a “buy” rating in a report on Saturday, March 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $38.44.
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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