Cantillon Capital Management LLC Buys 256,286 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Cantillon Capital Management LLC boosted its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 18,708,502 shares of the company’s stock after purchasing an additional 256,286 shares during the quarter. Tencent Music Entertainment Group accounts for about 1.8% of Cantillon Capital Management LLC’s holdings, making the stock its 27th largest holding. Cantillon Capital Management LLC’s holdings in Tencent Music Entertainment Group were worth $327,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TME. Robeco Institutional Asset Management B.V. raised its stake in Tencent Music Entertainment Group by 7.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company’s stock worth $100,039,000 after acquiring an additional 387,109 shares in the last quarter. SG Americas Securities LLC raised its stake in Tencent Music Entertainment Group by 85.7% during the fourth quarter. SG Americas Securities LLC now owns 542,198 shares of the company’s stock worth $9,505,000 after acquiring an additional 250,261 shares in the last quarter. Vanguard Group Inc. raised its stake in Tencent Music Entertainment Group by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock worth $376,119,000 after acquiring an additional 293,385 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tencent Music Entertainment Group by 414.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company’s stock valued at $19,820,000 after buying an additional 910,767 shares during the period. Finally, Green Court Capital Management Ltd increased its stake in shares of Tencent Music Entertainment Group by 93.1% in the third quarter. Green Court Capital Management Ltd now owns 1,039,078 shares of the company’s stock valued at $24,252,000 after buying an additional 501,078 shares during the period. 24.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TME shares. Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Barclays lowered their price objective on 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. Weiss Ratings cut Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Price Performance

Shares of TME opened at $9.10 on Monday. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $8.44 and a 12-month high of $26.70. The business’s fifty day moving average is $9.28 and its 200 day moving average is $13.78. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a market cap of $14.32 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 (NYSE:TME) last issued its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%.The company had revenue of $1.15 billion for the quarter. Sell-side analysts anticipate that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

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

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.