Capital City Trust Co. FL Purchases 2,097 Shares of Warner Music Group Corp. $WMG

Capital City Trust Co. FL increased its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 20.0% during the second quarter, HoldingsChannel reports. The fund owned 12,575 shares of the company’s stock after buying an additional 2,097 shares during the quarter. Capital City Trust Co. FL’s holdings in Warner Music Group were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Warner Music Group by 36.6% in the 1st quarter. JPMorgan Chase & Co. now owns 15,296,700 shares of the company’s stock valued at $479,552,000 after buying an additional 4,097,688 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Warner Music Group by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company’s stock valued at $450,803,000 after purchasing an additional 1,316,979 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of Warner Music Group by 127.0% during the 1st quarter. Independent Franchise Partners LLP now owns 13,378,864 shares of the company’s stock valued at $419,427,000 after purchasing an additional 7,483,839 shares in the last quarter. E. Ohman J or Asset Management AB boosted its position in shares of Warner Music Group by 3.3% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 1,048,077 shares of the company’s stock valued at $28,550,000 after purchasing an additional 33,652 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Warner Music Group by 2,198.4% during the 1st quarter. BNP Paribas Financial Markets now owns 999,613 shares of the company’s stock valued at $31,338,000 after purchasing an additional 956,121 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WMG shares. Bank of America upped their target price on Warner Music Group from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on Warner Music Group from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Cowen restated a “buy” rating on shares of Warner Music Group in a research report on Thursday, August 7th. Barclays upped their target price on Warner Music Group from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on Warner Music Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.82.

Warner Music Group Stock Down 1.0%

WMG stock opened at $33.85 on Friday. The stock’s 50 day simple moving average is $32.60 and its 200 day simple moving average is $30.09. Warner Music Group Corp. has a fifty-two week low of $25.56 and a fifty-two week high of $36.64. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.64 and a current ratio of 0.66. The company has a market cap of $17.64 billion, a P/E ratio of 59.39, a price-to-earnings-growth ratio of 1.06 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.30). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. On average, research analysts expect that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. This is a boost from Warner Music Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, August 20th. Warner Music Group’s dividend payout ratio (DPR) is currently 133.33%.

Warner Music Group Company Profile

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.