Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Warner Music Group Corp. (NYSE:WMG) during the 3rd quarter, Holdings Channel reports. The firm bought 14,110 shares of the company’s stock, valued at approximately $346,000.
Several other hedge funds have also made changes to their positions in the company. Advisor Group Holdings Inc. bought a new stake in shares of Warner Music Group during the second quarter worth $59,000. Sloane Robinson LLP boosted its holdings in Warner Music Group by 30.5% in the third quarter. Sloane Robinson LLP now owns 15,400 shares of the company’s stock valued at $443,000 after acquiring an additional 3,600 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Warner Music Group in the second quarter valued at about $143,000. Bank of Montreal Can bought a new position in Warner Music Group in the second quarter valued at about $182,000. Finally, SG Americas Securities LLC bought a new position in Warner Music Group in the third quarter valued at about $207,000.
Several equities analysts recently issued reports on WMG shares. Barclays reiterated a “hold” rating and issued a $30.00 price target on shares of Warner Music Group in a report on Thursday, August 6th. Morgan Stanley raised their price target on Warner Music Group from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, November 13th. Credit Suisse Group reiterated a “buy” rating and issued a $37.00 price target on shares of Warner Music Group in a report on Wednesday, August 5th. Finally, Zacks Investment Research upgraded Warner Music Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Saturday, November 7th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $33.67.
NYSE:WMG opened at $29.08 on Friday. Warner Music Group Corp. has a 1-year low of $25.61 and a 1-year high of $34.76. The firm has a 50-day moving average of $28.35. The firm has a market capitalization of $14.83 billion and a price-to-earnings ratio of -46.90.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 24th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, November 23rd. Warner Music Group’s dividend payout ratio is currently -77.42%.
Warner Music Group Profile
Warner Music Group Corp. operates as a music-based content company in the United States, the United Kingdom, and internationally. The company 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 the related marketing, promotion, distribution, sale, and licensing of recorded music created by such artists.
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