TD Asset Management Inc Sells 11,150 Shares of Warner Music Group Corp. (NASDAQ:WMG)

TD Asset Management Inc lowered its position in Warner Music Group Corp. (NASDAQ:WMGFree Report) by 10.8% during the 4th quarter, Holdings Channel reports. The fund owned 91,912 shares of the company’s stock after selling 11,150 shares during the period. TD Asset Management Inc’s holdings in Warner Music Group were worth $3,290,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Warner Music Group by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,638 shares of the company’s stock worth $522,000 after purchasing an additional 1,109 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Warner Music Group by 2.3% during the third quarter. Gamco Investors INC. ET AL now owns 74,650 shares of the company’s stock valued at $2,344,000 after buying an additional 1,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Warner Music Group by 31.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 801,840 shares of the company’s stock worth $25,178,000 after acquiring an additional 193,221 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Warner Music Group by 118.4% in the 3rd quarter. Van ECK Associates Corp now owns 85,923 shares of the company’s stock worth $2,698,000 after acquiring an additional 46,587 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Warner Music Group in the 3rd quarter valued at about $655,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Trading Down 1.0 %

NASDAQ:WMG opened at $30.00 on Friday. Warner Music Group Corp. has a 12 month low of $24.38 and a 12 month high of $38.05. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.81. The firm’s 50 day moving average is $32.52 and its 200 day moving average is $33.96. The stock has a market capitalization of $15.54 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.94 and a beta of 1.38.

Warner Music Group (NASDAQ:WMGGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. Sell-side analysts expect that Warner Music Group Corp. will post 0.99 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. Shareholders of record on Thursday, May 23rd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. Warner Music Group’s dividend payout ratio is presently 68.00%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WMG shares. Morgan Stanley began coverage on Warner Music Group in a research note on Monday, May 6th. They issued an “overweight” rating and a $43.00 price objective for the company. Loop Capital increased their price target on Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, April 18th. Finally, Guggenheim cut their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.88.

View Our Latest Analysis on WMG

Warner Music Group Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Music Group Corp. (NASDAQ:WMGFree Report).

Institutional Ownership by Quarter for Warner Music Group (NASDAQ:WMG)

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