Raymond James Trust N.A. acquired a new position in shares of Sony Corp (NYSE:SNE) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,517 shares of the company’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds also recently modified their holdings of SNE. Gilder Gagnon Howe & Co. LLC purchased a new stake in Sony during the 4th quarter worth about $88,068,000. Ameriprise Financial Inc. lifted its holdings in Sony by 256.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock worth $37,772,000 after purchasing an additional 732,847 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sony by 68.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock worth $51,505,000 after purchasing an additional 562,627 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Sony during the 3rd quarter worth about $16,993,000. Finally, Jag Capital Management LLC purchased a new stake in Sony during the 4th quarter worth about $11,390,000. 6.80% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on SNE. ValuEngine raised Sony from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. cut Sony from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 23rd. Jefferies Group reissued a “buy” rating and set a $59.84 price objective on shares of Sony in a report on Friday, November 17th. Finally, Zacks Investment Research raised Sony from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Sony currently has an average rating of “Buy” and an average target price of $48.19.
Sony (NYSE:SNE) last released its quarterly earnings results on Friday, February 2nd. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.74. Sony had a return on equity of 15.00% and a net margin of 6.29%. The firm had revenue of $2,672.32 billion for the quarter, compared to analysts’ expectations of $2,560.40 billion. During the same quarter last year, the firm posted $15.55 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. equities research analysts forecast that Sony Corp will post 3.3 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Raymond James Trust N.A. Invests $203,000 in Sony Corp (SNE) Stock” was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2018/02/10/raymond-james-trust-n-a-invests-203000-in-sony-corp-sne-stock.html.
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, Semiconductors, Component, Films, Music, Financial Services and All Other.
Want to see what other hedge funds are holding SNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sony Corp (NYSE:SNE).
Receive News & Ratings for Sony Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sony and related companies with MarketBeat.com's FREE daily email newsletter.