Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 2,827 Shares of Warner Music Group Corp. $WMG

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,483 shares of the company’s stock after buying an additional 2,827 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Warner Music Group were worth $1,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Warner Music Group by 36.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 270,016 shares of the company’s stock valued at $7,355,000 after purchasing an additional 71,440 shares during the period. Keystone Financial Services lifted its holdings in shares of Warner Music Group by 3.7% during the 2nd quarter. Keystone Financial Services now owns 9,619 shares of the company’s stock worth $262,000 after acquiring an additional 342 shares during the last quarter. Modera Wealth Management LLC boosted its stake in Warner Music Group by 128.3% in the second quarter. Modera Wealth Management LLC now owns 102,274 shares of the company’s stock worth $2,786,000 after buying an additional 57,478 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Warner Music Group by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,147,326 shares of the company’s stock valued at $31,253,000 after purchasing an additional 11,566 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Warner Music Group by 1.2% during the second quarter. State of Michigan Retirement System now owns 35,100 shares of the company’s stock valued at $956,000 after buying an additional 400 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WMG. Zacks Research downgraded shares of Warner Music Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. increased their price target on shares of Warner Music Group from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Sanford C. Bernstein raised their price objective on Warner Music Group from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Warner Music Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Cowen reissued a “buy” rating on shares of Warner Music Group in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.88.

Warner Music Group Stock Up 3.4%

WMG stock opened at $30.69 on Monday. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 53.84, a P/E/G ratio of 0.95 and a beta of 1.30. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.64 and a current ratio of 0.66. The business’s 50-day moving average is $32.19 and its two-hundred day moving average is $30.45. Warner Music Group Corp. has a fifty-two week low of $25.56 and a fifty-two week high of $36.64.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results on Thursday, November 20th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). Warner Music Group had a net margin of 4.59% and a return on equity of 39.95%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Warner Music Group’s dividend payout ratio is currently 108.57%.

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.