Tencent Music Entertainment Group Sponsored ADR $TME is Krane Funds Advisors LLC's 2nd Largest Position

Key Points

• Krane Funds Advisors LLC boosted its stake in Tencent Music Entertainment Group by 5.4% in the fourth quarter, making TME its 2nd largest position at about 11.4% of its portfolio.
• Tencent Music reported quarterly earnings of $0.11 per share on $1.15 billion in revenue, while analysts expect the company to earn 0.9 EPS for the current year.
• The company recently raised its annual dividend to $0.24 per share from $0.18, though Wall Street remains cautious with an overall Hold rating and a consensus price target of $21.44.

Krane Funds Advisors LLC increased its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,047,192 shares of the company's stock after acquiring an additional 1,026,551 shares during the period. Tencent Music Entertainment Group comprises approximately 11.4% of Krane Funds Advisors LLC's portfolio, making the stock its 2nd largest position. Krane Funds Advisors LLC's holdings in Tencent Music Entertainment Group were worth $351,427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TME. Royal Bank of Canada grew its position in Tencent Music Entertainment Group by 9.0% in the first quarter. Royal Bank of Canada now owns 144,475 shares of the company's stock worth $2,082,000 after acquiring an additional 11,979 shares in the last quarter. AQR Capital Management LLC lifted its stake in Tencent Music Entertainment Group by 107.5% in the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company's stock worth $1,231,000 after purchasing an additional 44,265 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Tencent Music Entertainment Group in the first quarter worth $985,000. Acadian Asset Management LLC lifted its stake in Tencent Music Entertainment Group by 385,900.0% in the first quarter. Acadian Asset Management LLC now owns 50,180 shares of the company's stock worth $722,000 after purchasing an additional 50,167 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Tencent Music Entertainment Group by 83.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company's stock worth $59,000 after purchasing an additional 1,363 shares during the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $9.10 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $9.28 and a 200-day moving average of $13.78. The firm has a market cap of $14.09 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.59 and a beta of 0.80. Tencent Music Entertainment Group Sponsored ADR has a 1-year low of $8.44 and a 1-year high of $26.70.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The company had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. Sell-side analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

Tencent Music Entertainment Group Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.24 per share. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.18. This represents a dividend yield of 262.0%. The ex-dividend date was Thursday, April 2nd. Tencent Music Entertainment Group's dividend payout ratio (DPR) is currently 28.75%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Daiwa Securities Group reissued a "hold" rating and issued a $12.00 price target on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. UBS Group reissued a "neutral" rating and issued a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Morgan Stanley reissued an "equal weight" rating on shares of Tencent Music Entertainment Group in a research note on Thursday, March 19th. Mizuho lowered their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Finally, Barclays lowered their price target on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of "Hold" and a consensus price target of $21.44.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group NYSE: TME is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent's music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.

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