5 Stocks to Buy Now According to James Katz’s Humankind Investments

4. Sony Group Corporation (NYSE:SONY)

Humankind Investments’ Stake Value: $5,111,000
Percentage of Humankind Investments’ 13F Portfolio: 2.05%
Number of Hedge Fund Holders: 28

Sony Group Corporation (NYSE:SONY) manufactures and sells consumer, professional, and industrial electronic equipment, instruments, gadgets, gaming consoles, and software. CLSA analyst Amit Garg downgraded Sony Group Corporation (NYSE:SONY) from Buy to Outperform with a price objective of 13,000 yen, down from 18,600 yen on April 13. According to the analyst, the company’s cash flow will be spent on games to counter its low-returning competitors.

According to Insider Monkey’s Q4 database, 28 hedge funds owned a total holding of $609.80 million in Sony Group Corporation (NYSE:SONY), up from 19 funds in the previous quarter with a total stake of $388.86 million.

Humankind Investments held 40,439 shares in Sony Group Corporation (NYSE:SONY) worth over $5.11 million, representing 2.05% of its Q4 investment portfolio. Of the 28 hedge funds that were bullish on Sony Group Corporation (NYSE:SONY) according to the fourth quarter database of Insider Monkey, GAMCO Investors is the leading stakeholder of the company, holding 1.85 million shares worth $233.46 million.

In its fourth quarter 2021 investor letter, Cooper Investors mentioned Sony Group Corporation (NYSE:SONY) and discussed its stance on the firm. Here is what the fund said:

“In recent years we have observed a growing market for music rights which represent another way for owners of record labels and music libraries like portfolio holdings Warner Music Group and Sony (via its subsidiary Sony Music, ~25% of our estimated enterprise value) to deploy capital, grow their businesses and create value for shareholders.

In the first few days of 2022 Warner closed a deal to acquire David Bowie’s back catalogue for about US$250m which follows on from Bruce Springsteen’s catalogue sale to Sony for upwards of US$500m and Bob Dylan’s sale to Universal Music for a similar amount…” (Click here to see the full text)”