96,400 Shares in Tencent Music Entertainment Group Sponsored ADR $TME Acquired by XY Capital Ltd

XY Capital Ltd acquired a new position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 96,400 shares of the company’s stock, valued at approximately $1,690,000. Tencent Music Entertainment Group accounts for approximately 1.1% of XY Capital Ltd’s holdings, making the stock its 20th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. IFM Investors Pty Ltd increased its position in Tencent Music Entertainment Group by 3.4% during the 4th quarter. IFM Investors Pty Ltd now owns 70,037 shares of the company’s stock worth $1,228,000 after purchasing an additional 2,323 shares in the last quarter. Deutsche Bank AG increased its position in Tencent Music Entertainment Group by 43.0% during the 4th quarter. Deutsche Bank AG now owns 4,441,235 shares of the company’s stock worth $77,855,000 after purchasing an additional 1,336,354 shares in the last quarter. Cerity Partners LLC increased its position in Tencent Music Entertainment Group by 1.8% in the 4th quarter. Cerity Partners LLC now owns 52,583 shares of the company’s stock valued at $922,000 after acquiring an additional 929 shares during the period. Cantillon Capital Management LLC increased its position in Tencent Music Entertainment Group by 1.4% in the 4th quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock valued at $327,960,000 after acquiring an additional 256,286 shares during the period. Finally, Franklin Resources Inc. increased its position in Tencent Music Entertainment Group by 46.0% in the 4th quarter. Franklin Resources Inc. now owns 532,342 shares of the company’s stock valued at $9,332,000 after acquiring an additional 167,658 shares during the period. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Up 0.8%

TME opened at $9.29 on Friday. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $8.44 and a twelve month high of $26.70. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $9.27 and a 200-day moving average of $13.52. The stock has a market cap of $14.62 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. The company had revenue of $1.15 billion during the quarter. On average, sell-side analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were given a dividend of $0.24 per share. This represents a dividend yield of 262.0%. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.18. The ex-dividend date was Thursday, April 2nd. Tencent Music Entertainment Group’s dividend payout ratio is currently 28.75%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TME. Benchmark restated a “hold” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Jefferies Financial Group restated a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Weiss Ratings cut shares of Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Mizuho decreased their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.