BB&T Corp lowered its position in Sony Corp. (NYSE:SNE) by 31.3% during the third quarter, Holdings Channel reports. The fund owned 18,430 shares of the company’s stock after selling 8,407 shares during the period. BB&T Corp’s holdings in Sony Corp. were worth $612,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in SNE. Northwestern Mutual Wealth Management Co. boosted its stake in Sony Corp. by 51.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,413 shares of the company’s stock valued at $100,000 after buying an additional 1,159 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Sony Corp. during the second quarter valued at approximately $127,000. Sei Investments Co. boosted its stake in Sony Corp. by 133.3% in the second quarter. Sei Investments Co. now owns 4,596 shares of the company’s stock valued at $135,000 after buying an additional 2,626 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Sony Corp. during the second quarter valued at approximately $144,000. Finally, Raymond James Trust N.A. acquired a new stake in Sony Corp. during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 6.59% of the company’s stock.
Sony Corp. (NYSE:SNE) opened at 29.50 on Friday. Sony Corp. has a 52 week low of $19.90 and a 52 week high of $34.17. The firm’s 50-day moving average price is $31.26 and its 200-day moving average price is $30.71. The company has a market capitalization of $37.23 billion, a price-to-earnings ratio of 71.43 and a beta of 2.03.
Sony Corp. (NYSE:SNE) last released its earnings results on Monday, November 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.11. Sony Corp. had a return on equity of 1.67% and a net margin of 0.67%. The business had revenue of $1,688.90 billion for the quarter, compared to the consensus estimate of $16.90 billion. During the same period last year, the business earned $26.10 earnings per share. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, equities analysts expect that Sony Corp. will post $0.52 earnings per share for the current year.
Several analysts recently commented on SNE shares. Zacks Investment Research upgraded Sony Corp. from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, September 28th. TheStreet upgraded Sony Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Finally, Vetr upgraded Sony Corp. from a “sell” rating to a “buy” rating and set a $35.49 target price on the stock in a research report on Tuesday, September 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $37.25.
About Sony Corp.
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.