Perpetual Ltd Has $17.99 Million Stock Position in Warner Music Group Corp. $WMG

Key Points

• Perpetual Ltd has increased its stock holdings in Warner Music Group by 5.3% during the second quarter, now owning 660,531 shares valued at approximately $17.99 million.
• Analysts have raised their price targets for Warner Music Group, with Citigroup setting a new target of $41.00, indicating a positive outlook for the stock.
• Warner Music Group recently declared a quarterly dividend of $0.19 per share, marking an increase from its previous quarterly dividend and reflecting a yield of 2.3%.

Perpetual Ltd raised its stake in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 660,531 shares of the company's stock after buying an additional 33,422 shares during the period. Perpetual Ltd owned approximately 0.13% of Warner Music Group worth $17,993,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WMG. Banque Cantonale Vaudoise acquired a new position in Warner Music Group during the 1st quarter valued at about $40,000. UMB Bank n.a. increased its stake in Warner Music Group by 101.5% during the 1st quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after buying an additional 732 shares during the period. State of Wyoming bought a new position in shares of Warner Music Group during the 4th quarter valued at about $47,000. Quarry LP bought a new position in shares of Warner Music Group during the 1st quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Warner Music Group by 45.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the company's stock valued at $88,000 after purchasing an additional 878 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Warner Music Group Stock Up 0.1%

Shares of NASDAQ WMG traded up $0.03 during mid-day trading on Tuesday, reaching $33.19. The company had a trading volume of 109,620 shares, compared to its average volume of 1,893,342. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 58.22, a PEG ratio of 1.66 and a beta of 1.31. Warner Music Group Corp. has a 12-month low of $25.56 and a 12-month high of $36.64. 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 stock has a fifty day moving average of $32.14 and a two-hundred day moving average of $30.03.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.30). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.59 billion. Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, equities research analysts expect that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a $0.19 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. This is a boost from Warner Music Group's previous quarterly dividend of $0.18. Warner Music Group's payout ratio is presently 133.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Tigress Financial raised their price objective on shares of Warner Music Group from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. UBS Group set a $45.00 price objective on shares of Warner Music Group in a research report on Wednesday, September 10th. Redburn Atlantic upgraded shares of Warner Music Group from a "strong sell" rating to a "hold" rating and set a $30.00 price objective for the company in a research report on Tuesday, July 15th. 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. Finally, Bank of America upgraded shares of Warner Music Group from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $28.00 to $33.00 in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $34.65.

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.