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

DJE Kapital AG cut its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 51.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of 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 valued at $100,039,000 after buying an additional 387,109 shares during the period. SG Americas Securities LLC increased its position in shares of 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 valued at $9,505,000 after buying an additional 250,261 shares during the period. Vanguard Group Inc. increased its position in shares of 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 valued at $376,119,000 after buying an additional 293,385 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tencent Music Entertainment Group by 414.3% during 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, Panview Capital Ltd bought a new stake in shares of Tencent Music Entertainment Group during the third quarter valued at about $6,652,000. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Stock Up 0.8%

TME stock opened at $9.29 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $9.27 and its 200 day moving average is $13.52. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. Tencent Music Entertainment Group Sponsored ADR has a 1-year low of $8.44 and a 1-year high of $26.70.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The company 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%. Sell-side analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TME shares. Daiwa Securities Group reiterated a “hold” rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Zacks Research upgraded shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Jefferies Financial Group restated a “buy” rating and issued a $23.00 price objective on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. JPMorgan Chase & Co. decreased their price objective on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Finally, UBS Group restated a “neutral” rating and issued a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.44.

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.