Mackenzie Financial Corp Acquires New Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Mackenzie Financial Corp bought a new stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,485 shares of the company's stock, valued at approximately $1,664,000.

A number of other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in Warner Music Group by 198.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 48,880 shares of the company's stock valued at $1,723,000 after buying an additional 32,500 shares during the period. Hahn Capital Management LLC bought a new stake in Warner Music Group in the 4th quarter valued at $4,863,000. Fifth Third Bancorp bought a new stake in Warner Music Group in the 4th quarter valued at $38,000. Capital City Trust Co. FL lifted its holdings in Warner Music Group by 21.4% during the 4th quarter. Capital City Trust Co. FL now owns 9,096 shares of the company's stock valued at $326,000 after purchasing an additional 1,602 shares during the last quarter. Finally, MJP Associates Inc. ADV boosted its position in Warner Music Group by 10.3% during the fourth quarter. MJP Associates Inc. ADV now owns 17,667 shares of the company's stock worth $632,000 after purchasing an additional 1,648 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WMG shares. Redburn Atlantic raised Warner Music Group from a "sell" rating to a "neutral" rating and upped their price objective for the company from $17.00 to $21.00 in a report on Monday, February 5th. Loop Capital upped their price target on shares of Warner Music Group from $36.00 to $38.00 and gave the company a "hold" rating in a research note on Thursday, April 18th. Finally, Guggenheim cut their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a "buy" rating for the company in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.88.

Warner Music Group Trading Down 0.5 %

Shares of NASDAQ WMG traded down $0.17 during midday trading on Wednesday, reaching $31.97. The stock had a trading volume of 1,287,063 shares, compared to its average volume of 1,463,380. Warner Music Group Corp. has a twelve month low of $23.62 and a twelve month high of $38.05. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.67 and a current ratio of 0.70. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.08 and a beta of 1.46. The company's 50 day moving average price is $33.88 and its 200 day moving average price is $34.04.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.13). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. As a group, sell-side analysts expect that Warner Music Group Corp. will post 0.99 EPS for the current year.

Warner Music Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 22nd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. Warner Music Group's dividend payout ratio is currently 77.27%.

About Warner Music Group

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.