Cullen Frost Bankers Inc. Cuts Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Cullen Frost Bankers Inc. decreased its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 222,749 shares of the company's stock after selling 13,583 shares during the period. Cullen Frost Bankers Inc.'s holdings in Warner Music Group were worth $6,983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in shares of Warner Music Group by 3.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 40,600 shares of the company's stock valued at $1,273,000 after acquiring an additional 1,300 shares during the period. State of Michigan Retirement System boosted its holdings in Warner Music Group by 3.6% in the 1st quarter. State of Michigan Retirement System now owns 34,700 shares of the company's stock worth $1,088,000 after buying an additional 1,200 shares during the period. Alps Advisors Inc. boosted its holdings in Warner Music Group by 14.9% in the 1st quarter. Alps Advisors Inc. now owns 174,773 shares of the company's stock worth $5,479,000 after buying an additional 22,694 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Warner Music Group by 25.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,712 shares of the company's stock worth $2,153,000 after buying an additional 14,000 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Warner Music Group by 28.7% in the 1st quarter. Brown Advisory Inc. now owns 22,820 shares of the company's stock worth $715,000 after buying an additional 5,090 shares during the period. Hedge funds and other institutional investors own 96.88% of the company's stock.

Warner Music Group Stock Down 0.2%

NASDAQ:WMG traded down $0.05 during mid-day trading on Friday, hitting $31.22. 1,716,302 shares of the company's stock were exchanged, compared to its average volume of 1,768,071. Warner Music Group Corp. has a one year low of $25.56 and a one year high of $36.64. The company has a debt-to-equity ratio of 5.43, a current ratio of 0.66 and a quick ratio of 0.64. The business has a fifty day moving average price of $27.54 and a 200 day moving average price of $30.09. The company has a market cap of $16.27 billion, a PE ratio of 35.89, a P/E/G ratio of 1.18 and a beta of 1.24.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.21). The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.52 billion. Warner Music Group had a return on equity of 64.64% and a net margin of 7.14%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. Equities analysts predict that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.31%. Warner Music Group's payout ratio is 82.76%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Rothschild & Co Redburn upgraded shares of Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 target price on the stock in a research note on Tuesday, July 15th. Redburn Atlantic upgraded shares of Warner Music Group from a "strong sell" rating to a "hold" rating and set a $30.00 target price on the stock in a research note on Tuesday, July 15th. FBN Securities began coverage on shares of Warner Music Group in a research note on Friday, March 28th. They issued a "sector perform" rating and a $35.00 target price on the stock. Wolfe Research upgraded shares of Warner Music Group to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Barclays raised their price objective on shares of Warner Music Group from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.72.

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.