Deutsche Bank Aktiengesellschaft Trims Warner Music Group (NASDAQ:WMG) Target Price to $36.00

Warner Music Group (NASDAQ:WMG) had its target price cut by Deutsche Bank Aktiengesellschaft from $42.00 to $36.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Warner Music Group in a research note on Thursday, July 11th. They set a buy rating and a $38.00 price target on the stock. Morgan Stanley initiated coverage on shares of Warner Music Group in a research note on Monday, May 6th. They set an overweight rating and a $43.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Warner Music Group from $37.00 to $34.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Loop Capital boosted their price objective on Warner Music Group from $36.00 to $38.00 and gave the stock a hold rating in a research report on Thursday, April 18th. Finally, Redburn Atlantic reissued a sell rating and set a $23.00 price objective (up from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Warner Music Group has an average rating of Moderate Buy and an average price target of $37.19.

Warner Music Group Stock Down 0.2 %

Shares of WMG opened at $28.22 on Tuesday. The firm has a market cap of $14.62 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.38. Warner Music Group has a 12-month low of $27.06 and a 12-month high of $38.05. The company’s 50-day moving average price is $30.09 and its 200 day moving average price is $32.32. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26.

Warner Music Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 27th will be issued a $0.18 dividend. This is an increase from Warner Music Group’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 27th. Warner Music Group’s dividend payout ratio is presently 68.00%.

Institutional Investors Weigh In On Warner Music Group

Several large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Warner Music Group by 35,439.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 50,822 shares of the company’s stock valued at $1,558,000 after acquiring an additional 50,679 shares during the period. Scientech Research LLC purchased a new stake in shares of Warner Music Group during the second quarter worth approximately $599,000. Linonia Partnership LP purchased a new stake in shares of Warner Music Group during the second quarter worth approximately $21,132,000. Mackenzie Financial Corp raised its stake in shares of Warner Music Group by 14.5% during the second quarter. Mackenzie Financial Corp now owns 50,836 shares of the company’s stock worth $1,558,000 after purchasing an additional 6,442 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Warner Music Group by 263.9% during the second quarter. The Manufacturers Life Insurance Company now owns 126,780 shares of the company’s stock worth $3,886,000 after purchasing an additional 91,937 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

About Warner Music Group

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.