Cahaba Wealth Management Inc. Makes New $503,000 Investment in Warner Music Group Corp. $WMG

Cahaba Wealth Management Inc. purchased a new stake in Warner Music Group Corp. (NASDAQ:WMG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,683 shares of the company’s stock, valued at approximately $503,000.

Other large investors have also recently modified their holdings of the company. US Bancorp DE increased its holdings in Warner Music Group by 23.5% in the third quarter. US Bancorp DE now owns 1,729 shares of the company’s stock valued at $59,000 after purchasing an additional 329 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Warner Music Group by 1.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 34,350 shares of the company’s stock worth $936,000 after buying an additional 358 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in Warner Music Group by 12.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,783 shares of the company’s stock worth $116,000 after buying an additional 405 shares during the period. Natixis Advisors LLC grew its position in shares of Warner Music Group by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 12,718 shares of the company’s stock valued at $390,000 after buying an additional 446 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Warner Music Group by 4.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,062 shares of the company’s stock valued at $339,000 after buying an additional 460 shares during the period. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Trading Up 1.6%

WMG opened at $28.89 on Thursday. Warner Music Group Corp. has a fifty-two week low of $23.34 and a fifty-two week high of $35.42. The firm has a market capitalization of $15.07 billion, a PE ratio of 33.99, a P/E/G ratio of 0.42 and a beta of 1.30. The company has a debt-to-equity ratio of 5.62, a current ratio of 0.73 and a quick ratio of 0.71. The company’s 50-day moving average is $30.17 and its 200 day moving average is $29.13.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.14. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.61 billion. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, research analysts predict that Warner Music Group Corp. will post 1.52 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 26th. Warner Music Group’s dividend payout ratio is presently 89.41%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Warner Music Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Sanford C. Bernstein restated an “outperform” rating on shares of Warner Music Group in a research report on Friday, May 8th. UBS Group increased their price objective on shares of Warner Music Group from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Guggenheim lifted their target price on shares of Warner Music Group from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a research report on Wednesday, June 24th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.87.

Warner Music Group Company Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.