Teachers Retirement System of The State of Kentucky Acquires 32,300 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Teachers Retirement System of The State of Kentucky raised its stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 239.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,800 shares of the company's stock after acquiring an additional 32,300 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Warner Music Group were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its stake in shares of Warner Music Group by 74.5% during the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company's stock valued at $29,000 after acquiring an additional 407 shares during the period. Concord Wealth Partners bought a new position in shares of Warner Music Group in the 3rd quarter valued at about $30,000. Assetmark Inc. grew its position in shares of Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company's stock worth $39,000 after buying an additional 1,222 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Warner Music Group during the third quarter worth approximately $73,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Warner Music Group during the second quarter worth approximately $86,000. 96.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WMG has been the subject of a number of analyst reports. Macquarie reaffirmed a "neutral" rating and set a $30.00 target price on shares of Warner Music Group in a report on Friday, November 22nd. JPMorgan Chase & Co. decreased their price objective on Warner Music Group from $41.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Citigroup increased their target price on Warner Music Group from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, November 29th. Loop Capital decreased their target price on Warner Music Group from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Monday, November 25th. Finally, Guggenheim reiterated a "buy" rating and issued a $44.00 price target on shares of Warner Music Group in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Music Group has an average rating of "Hold" and an average price target of $35.67.

Warner Music Group Stock Down 2.1 %

NASDAQ WMG traded down $0.67 during trading on Wednesday, hitting $31.27. The stock had a trading volume of 2,423,585 shares, compared to its average volume of 1,802,880. The company has a market capitalization of $16.20 billion, a PE ratio of 37.67, a P/E/G ratio of 0.70 and a beta of 1.35. Warner Music Group Corp. has a 12 month low of $27.06 and a 12 month high of $38.05. The company's 50-day moving average price is $32.24 and its two-hundred day moving average price is $30.75. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.65 and a current ratio of 0.68.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.20). The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. Warner Music Group had a return on equity of 69.29% and a net margin of 6.77%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts forecast that Warner Music Group Corp. will post 1.34 EPS for the current year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, November 19th. Warner Music Group's payout ratio is presently 86.75%.

Warner Music Group 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.