CIBC Asset Management Inc purchased a new position in shares of Sony Corp (NYSE:SNE) in the first quarter, Holdings Channel reports. The fund purchased 261,210 shares of the company’s stock, valued at approximately $11,034,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Menora Mivtachim Holdings LTD. purchased a new position in shares of Sony during the 4th quarter valued at about $51,675,000. Boston Partners raised its stake in shares of Sony by 32.3% during the 1st quarter. Boston Partners now owns 2,670,231 shares of the company’s stock valued at $112,790,000 after buying an additional 651,491 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in shares of Sony during the 4th quarter valued at about $23,021,000. LMR Partners LLP purchased a new position in shares of Sony during the 4th quarter valued at about $19,478,000. Finally, NorthCoast Asset Management LLC raised its stake in shares of Sony by 45.5% during the 4th quarter. NorthCoast Asset Management LLC now owns 581,890 shares of the company’s stock valued at $28,094,000 after buying an additional 181,864 shares during the last quarter. 7.60% of the stock is owned by institutional investors.

Shares of Sony stock opened at $48.44 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. Sony Corp has a twelve month low of $41.91 and a twelve month high of $61.02. The stock has a market capitalization of $60.69 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39.

Sony (NYSE:SNE) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.43. Sony had a return on equity of 21.78% and a net margin of 10.54%. The firm had revenue of $2,127.50 billion during the quarter, compared to analyst estimates of $2,040.96 billion. During the same quarter in the previous year, the business earned $41.20 EPS. Sony’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts forecast that Sony Corp will post 3.97 earnings per share for the current fiscal year.

SNE has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Sony from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Zacks Investment Research upgraded Sony from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Thursday, January 17th. CLSA reiterated a “buy” rating on shares of Sony in a research note on Friday, March 22nd. ValuEngine upgraded Sony from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Macquarie lowered Sony from an “outperform” rating to a “neutral” rating in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $50.32.

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Sony Profile

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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Institutional Ownership by Quarter for Sony (NYSE:SNE)

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