Morningstar Investment Services LLC Has $773,000 Stake in Warner Music Group Corp. (NASDAQ:WMG)

Morningstar Investment Services LLC decreased its stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 46.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,671 shares of the company's stock after selling 21,716 shares during the period. Morningstar Investment Services LLC's holdings in Warner Music Group were worth $773,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. lifted its stake in Warner Music Group by 122.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock valued at $33,000 after purchasing an additional 586 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Warner Music Group in the 4th quarter valued at about $43,000. UMB Bank n.a. lifted its stake in Warner Music Group by 101.5% in the 1st quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after purchasing an additional 732 shares during the last quarter. State of Wyoming acquired a new stake in Warner Music Group in the 4th quarter valued at about $47,000. Finally, GAMMA Investing LLC lifted its stake in Warner Music Group by 71.4% in the 1st quarter. GAMMA Investing LLC now owns 3,040 shares of the company's stock valued at $95,000 after purchasing an additional 1,266 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Warner Music Group Price Performance

Shares of NASDAQ WMG traded down $0.05 during midday trading on Friday, reaching $31.22. 1,716,302 shares of the company were exchanged, compared to its average volume of 1,768,071. The stock's 50-day moving average price is $27.54 and its 200-day moving average price is $30.09. The stock has a market cap of $16.27 billion, a P/E ratio of 35.89, a PEG ratio of 1.18 and a beta of 1.24. Warner Music Group Corp. has a one year low of $25.56 and a one year high of $36.64. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.43.

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

Warner Music Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on WMG shares. Wolfe Research upgraded shares of Warner Music Group to a "strong-buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Bank of America upgraded shares of Warner Music Group from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $33.00 in a research report on Wednesday, July 9th. Morgan Stanley dropped their price target on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, Rothschild & Co Redburn upgraded shares of Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 price target for the company in a research report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Warner Music Group currently has an average rating of "Moderate Buy" and an average price target 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.