XY Capital Ltd Purchases Shares of 96,400 Tencent Music Entertainment Group Sponsored ADR $TME

XY Capital Ltd purchased a new stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 96,400 shares of the company’s stock, valued at approximately $1,690,000. Tencent Music Entertainment Group comprises 1.1% of XY Capital Ltd’s holdings, making the stock its 20th largest holding.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Tencent Music Entertainment Group by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock worth $376,119,000 after purchasing an additional 293,385 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in Tencent Music Entertainment Group by 5.4% in the 4th quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock valued at $351,427,000 after purchasing an additional 1,026,551 shares during the period. Cantillon Capital Management LLC boosted its holdings in Tencent Music Entertainment Group by 1.4% in the 4th quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock valued at $327,960,000 after purchasing an additional 256,286 shares during the period. Baillie Gifford & Co. boosted its holdings in Tencent Music Entertainment Group by 0.3% in the 4th quarter. Baillie Gifford & Co. now owns 13,042,381 shares of the company’s stock valued at $228,633,000 after purchasing an additional 35,182 shares during the period. Finally, State Street Corp boosted its holdings in Tencent Music Entertainment Group by 1.3% in the 2nd quarter. State Street Corp now owns 12,553,992 shares of the company’s stock valued at $244,677,000 after purchasing an additional 155,692 shares during the period. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TME has been the subject of a number of recent research reports. UBS Group reissued a “neutral” rating and issued a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price objective on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Finally, Daiwa Securities Group reissued a “hold” rating and issued a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Stock Performance

Shares of Tencent Music Entertainment Group stock opened at $9.29 on Friday. The company has a 50 day moving average of $9.27 and a 200-day moving average of $13.52. Tencent Music Entertainment Group Sponsored ADR has a 1-year low of $8.44 and a 1-year high of $26.70. 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 has a market cap of $14.62 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80.

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

Tencent Music Entertainment Group Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were given a dividend of $0.24 per share. The ex-dividend date was Thursday, April 2nd. This represents a yield of 262.0%. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s dividend payout ratio is currently 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.