DJE Kapital AG Sells 75,000 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

DJE Kapital AG lowered its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 51.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 70,400 shares of the company’s stock after selling 75,000 shares during the period. DJE Kapital AG’s holdings in Tencent Music Entertainment Group were worth $1,250,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TME. Norges Bank purchased a new position in shares of Tencent Music Entertainment Group in the fourth quarter worth about $94,360,000. Green Court Capital Management Ltd increased its holdings in shares of Tencent Music Entertainment Group by 467.2% in the fourth quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company’s stock worth $108,729,000 after buying an additional 4,854,084 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tencent Music Entertainment Group by 312.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company’s stock worth $101,049,000 after buying an additional 4,366,226 shares during the period. Krane Funds Advisors LLC increased its holdings in shares of Tencent Music Entertainment Group by 25.4% in the third quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock worth $421,593,000 after buying an additional 3,856,410 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Tencent Music Entertainment Group in the third quarter worth about $88,175,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $23.00 target price on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Barclays dropped 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 report on Thursday, March 19th. Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. UBS Group reissued a “neutral” rating and set a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, Weiss Ratings cut shares of Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Tencent Music Entertainment Group has an average rating of “Hold” and an average target price of $21.44.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $9.29 on Friday. The stock has a market cap of $14.62 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. The firm’s fifty day simple moving average is $9.27 and its 200 day simple moving average is $13.52. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $8.44 and a twelve month high of $26.70. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The business had revenue of $1.15 billion for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. As a group, research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

Tencent Music Entertainment Group Increases Dividend

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