Press Ctrl + Shift + O to open the Favorites Menu
Select the three dots at the top to expand the 'More Options' Menu.
From this Menu choose 'Open Favorites Page'
This page allow you to select and move items by dragging them to different folders.
You can also edit, rename items, and create new folders.
By locating the folder you wish to organize.
Select the three dots as so and select Sort by name
