Capital International Sarl Buys 12,176 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Capital International Sarl grew its stake in Warner Music Group Corp. (NASDAQ:WMG) by 10.7% in the first quarter, HoldingsChannel reports. The fund owned 126,108 shares of the company’s stock after acquiring an additional 12,176 shares during the period. Capital International Sarl’s holdings in Warner Music Group were worth $4,164,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WMG. FIL Ltd raised its stake in shares of Warner Music Group by 85.6% during the fourth quarter. FIL Ltd now owns 5,198,892 shares of the company’s stock worth $186,068,000 after buying an additional 2,397,232 shares during the last quarter. Capital World Investors raised its stake in shares of Warner Music Group by 21.5% during the fourth quarter. Capital World Investors now owns 9,319,510 shares of the company’s stock worth $333,545,000 after buying an additional 1,651,571 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Warner Music Group by 87.1% during the fourth quarter. Point72 Asset Management L.P. now owns 2,713,747 shares of the company’s stock worth $97,125,000 after buying an additional 1,263,690 shares during the last quarter. Norges Bank bought a new stake in shares of Warner Music Group during the fourth quarter worth approximately $43,628,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Warner Music Group by 462.7% during the first quarter. Assenagon Asset Management S.A. now owns 1,013,025 shares of the company’s stock worth $33,450,000 after buying an additional 832,990 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WMG shares. Loop Capital boosted their price target on shares of Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. Wolfe Research assumed coverage on shares of Warner Music Group in a research note on Friday, July 12th. They issued an “outperform” rating and a $37.00 target price for the company. Morgan Stanley assumed coverage on shares of Warner Music Group in a research note on Monday, May 6th. They issued an “overweight” rating and a $43.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Warner Music Group in a research note on Thursday, July 11th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Guggenheim lowered their target price on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.13.

Warner Music Group Stock Up 0.8 %

Shares of Warner Music Group stock traded up $0.25 on Friday, hitting $29.83. The company had a trading volume of 2,137,443 shares, compared to its average volume of 1,942,940. The firm has a market capitalization of $15.45 billion, a P/E ratio of 29.83, a P/E/G ratio of 1.87 and a beta of 1.38. Warner Music Group Corp. has a twelve month low of $28.89 and a twelve month high of $38.05. The company has a debt-to-equity ratio of 6.81, a current ratio of 0.69 and a quick ratio of 0.67. The stock has a 50-day moving average of $30.67 and a 200-day moving average of $33.08.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Warner Music Group had a net margin of 8.28% and a return on equity of 120.42%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share. Research analysts predict that Warner Music Group Corp. will post 1.01 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Thursday, May 23rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, May 22nd. Warner Music Group’s payout ratio is 68.00%.

Warner Music Group Company Profile

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville.