Mawer Investment Management Ltd. lowered its stake in shares of Warner Music Group Corp. (NASDAQ:WMG – Free Report) by 6.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 295,041 shares of the company’s stock after selling 19,011 shares during the period. Mawer Investment Management Ltd. owned approximately 0.06% of Warner Music Group worth $9,049,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in Warner Music Group by 23.5% during the third quarter. US Bancorp DE now owns 1,729 shares of the company’s stock worth $59,000 after purchasing an additional 329 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Warner Music Group by 1.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 34,350 shares of the company’s stock valued at $936,000 after buying an additional 358 shares during the period. Fifth Third Bancorp lifted its stake in Warner Music Group by 20.1% during the 3rd quarter. Fifth Third Bancorp now owns 3,717 shares of the company’s stock worth $127,000 after acquiring an additional 622 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Warner Music Group by 21.1% during the 4th quarter. Rosenberg Matthew Hamilton now owns 3,936 shares of the company’s stock worth $121,000 after acquiring an additional 686 shares in the last quarter. Finally, CWM LLC boosted its holdings in Warner Music Group by 40.8% during the 4th quarter. CWM LLC now owns 3,486 shares of the company’s stock valued at $107,000 after acquiring an additional 1,011 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.
Warner Music Group Stock Down 1.3%
WMG stock opened at $31.13 on Tuesday. The stock has a market cap of $16.24 billion, a P/E ratio of 36.62, a PEG ratio of 0.46 and a beta of 1.27. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 5.62. Warner Music Group Corp. has a twelve month low of $23.34 and a twelve month high of $35.42. The company’s 50 day moving average is $29.48 and its two-hundred day moving average is $29.22.
Warner Music Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. Warner Music Group’s dividend payout ratio (DPR) is presently 89.41%.
Wall Street Analyst Weigh In
WMG has been the topic of a number of recent research reports. Evercore reiterated an “outperform” rating and set a $43.00 price target on shares of Warner Music Group in a research note on Friday, May 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of Warner Music Group in a research note on Friday, May 8th. Guggenheim lifted their price objective on shares of Warner Music Group from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 8th. Morgan Stanley set a $39.00 target price on shares of Warner Music Group in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Warner Music Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.38.
Read Our Latest Research Report on Warner Music Group
Warner Music Group Profile
Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.
WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.
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