Warner Music Group Corp. $WMG Shares Sold by Independent Franchise Partners LLP

Independent Franchise Partners LLP lowered its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,096,205 shares of the company’s stock after selling 57,179 shares during the period. Warner Music Group makes up 2.6% of Independent Franchise Partners LLP’s holdings, making the stock its 18th biggest holding. Independent Franchise Partners LLP’s holdings in Warner Music Group were worth $401,661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. US Bancorp DE grew its holdings in shares of Warner Music Group by 23.5% in the third quarter. US Bancorp DE now owns 1,729 shares of the company’s stock valued at $59,000 after purchasing an additional 329 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Warner Music Group by 1.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 34,350 shares of the company’s stock worth $936,000 after acquiring an additional 358 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in Warner Music Group by 12.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,783 shares of the company’s stock worth $116,000 after acquiring an additional 405 shares in the last quarter. Natixis Advisors LLC grew its holdings in Warner Music Group by 3.6% during the 4th quarter. Natixis Advisors LLC now owns 12,718 shares of the company’s stock worth $390,000 after acquiring an additional 446 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Warner Music Group by 4.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,062 shares of the company’s stock worth $339,000 after acquiring an additional 460 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

WMG has been the subject of several analyst reports. Guggenheim boosted their price target on shares of Warner Music Group from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Warner Music Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Morgan Stanley set a $39.00 price target on shares of Warner Music Group in a report on Friday, May 8th. UBS Group boosted their price target on shares of Warner Music Group from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating and set a $43.00 price target on shares of Warner Music Group in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Warner Music Group presently has an average rating of “Moderate Buy” and a consensus price target of $37.38.

Warner Music Group Stock Down 1.0%

Shares of NASDAQ:WMG opened at $28.52 on Thursday. The company has a market capitalization of $14.88 billion, a PE ratio of 33.55, a P/E/G ratio of 0.42 and a beta of 1.27. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 5.62. Warner Music Group Corp. has a twelve month low of $23.34 and a twelve month high of $35.42. The firm has a 50 day simple moving average of $30.56 and a 200-day simple moving average of $29.19.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.14. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.61 billion. Warner Music Group had a net margin of 6.34% and a return on equity of 62.01%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, equities analysts predict that Warner Music Group Corp. will post 1.52 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were given a $0.19 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.76 annualized dividend and a yield of 2.7%. Warner Music Group’s dividend payout ratio is 89.41%.

Warner Music Group Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.