Bank of New York Mellon Corp reduced its stake in Sony Corp (NYSE:SNE) by 82.5% during the 2nd quarter, Holdings Channel reports. The firm owned 244,486 shares of the company’s stock after selling 1,151,614 shares during the period. Bank of New York Mellon Corp’s holdings in Sony were worth $12,532,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Credit Agricole S A purchased a new position in shares of Sony in the 2nd quarter valued at approximately $146,000. Advisors Asset Management Inc. acquired a new stake in shares of Sony in the 2nd quarter valued at approximately $510,000. AE Wealth Management LLC acquired a new stake in shares of Sony in the 2nd quarter valued at approximately $204,000. Sawtooth Solutions LLC acquired a new stake in shares of Sony in the 2nd quarter valued at approximately $247,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of Sony in the 2nd quarter valued at approximately $265,000. Institutional investors own 7.64% of the company’s stock.
Several analysts have recently commented on the company. ValuEngine raised Sony from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research cut Sony from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Credit Suisse Group raised Sony from a “neutral” rating to an “outperform” rating in a report on Monday, September 10th. Piper Jaffray Companies reissued an “overweight” rating on shares of Sony in a report on Friday, October 19th. Finally, JPMorgan Chase & Co. raised Sony from a “neutral” rating to a “buy” rating in a report on Friday, November 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Sony currently has an average rating of “Buy” and a consensus target price of $67.07.
SNE opened at $51.13 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $65.09 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.62. Sony Corp has a 12 month low of $44.37 and a 12 month high of $61.02.
Sony (NYSE:SNE) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.91 by $0.29. The business had revenue of $19.58 billion during the quarter. Sony had a return on equity of 17.19% and a net margin of 7.70%. As a group, research analysts forecast that Sony Corp will post 4.54 EPS for the current fiscal year.
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Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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