Highland Capital Management LLC increased its stake in Sony Corp Ord (NYSE:SNE) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,167 shares of the company’s stock after buying an additional 3,977 shares during the period. Highland Capital Management LLC’s holdings in Sony Corp Ord were worth $3,864,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Sony Corp Ord during the fourth quarter valued at approximately $3,017,000. Raymond James Trust N.A. bought a new stake in shares of Sony Corp Ord during the first quarter valued at approximately $205,000. Quadrant Capital Group LLC raised its stake in shares of Sony Corp Ord by 154.9% in the first quarter. Quadrant Capital Group LLC now owns 6,195 shares of the company’s stock valued at $198,000 after buying an additional 3,765 shares during the period. Bank of Montreal Can raised its stake in shares of Sony Corp Ord by 29.2% in the first quarter. Bank of Montreal Can now owns 32,471 shares of the company’s stock valued at $1,094,000 after buying an additional 7,348 shares during the period. Finally, Capstone Asset Management Co. raised its stake in shares of Sony Corp Ord by 5.7% in the first quarter. Capstone Asset Management Co. now owns 86,077 shares of the company’s stock valued at $2,903,000 after buying an additional 4,620 shares during the period. Institutional investors and hedge funds own 6.94% of the company’s stock.
Sony Corp Ord (NYSE SNE) opened at 39.15 on Tuesday. The firm’s 50 day moving average is $39.62 and its 200-day moving average is $35.15. The company has a market cap of $49.45 billion, a P/E ratio of 41.92 and a beta of 1.73. Sony Corp Ord has a 52 week low of $27.72 and a 52 week high of $41.65.
Sony Corp Ord (NYSE:SNE) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Sony Corp Ord had a net margin of 1.67% and a return on equity of 4.17%. The firm had revenue of $1,858.10 billion during the quarter, compared to analysts’ expectations of $1,735.86 billion. During the same quarter in the prior year, the company earned $16.44 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. On average, analysts predict that Sony Corp Ord will post $2.18 earnings per share for the current fiscal year.
SNE has been the subject of several research analyst reports. J P Morgan Chase & Co upgraded shares of Sony Corp Ord from a “neutral” rating to an “overweight” rating in a report on Friday, April 21st. Sanford C. Bernstein began coverage on shares of Sony Corp Ord in a research note on Tuesday, April 25th. They set an “outperform” rating and a $41.00 target price for the company. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating on shares of Sony Corp Ord in a research note on Monday, May 1st. Zacks Investment Research raised shares of Sony Corp Ord from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, May 3rd. Finally, BidaskClub raised shares of Sony Corp Ord from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Sony Corp Ord presently has an average rating of “Buy” and an average price target of $42.31.
Sony Corp Ord 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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