California State Teachers Retirement System Has $3.11 Billion Stock Holdings in TKO Group Holdings, Inc. $TKO

California State Teachers Retirement System lifted its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 19,629.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,446,315 shares of the company’s stock after buying an additional 15,368,026 shares during the quarter. California State Teachers Retirement System owned about 0.08% of TKO Group worth $3,109,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TKO. State Street Corp grew its holdings in TKO Group by 20.3% during the 3rd quarter. State Street Corp now owns 5,249,091 shares of the company’s stock worth $1,060,106,000 after acquiring an additional 887,401 shares during the last quarter. XN LP raised its stake in shares of TKO Group by 6.3% in the fourth quarter. XN LP now owns 2,866,943 shares of the company’s stock worth $599,191,000 after acquiring an additional 169,574 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of TKO Group by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,373,243 shares of the company’s stock worth $496,008,000 after acquiring an additional 395,040 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TKO Group by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,855,077 shares of the company’s stock worth $387,072,000 after purchasing an additional 49,486 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of TKO Group by 22.5% during the first quarter. Bank of America Corp DE now owns 1,393,727 shares of the company’s stock valued at $281,045,000 after purchasing an additional 256,305 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TKO. JPMorgan Chase & Co. dropped their price objective on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of TKO Group in a research report on Tuesday, August 4th. BTIG Research reiterated a “buy” rating and issued a $237.00 price objective on shares of TKO Group in a research report on Tuesday, August 4th. Morgan Stanley lifted their target price on TKO Group from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Guggenheim boosted their target price on TKO Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $238.08.

Insiders Place Their Bets

In related news, CEO Ariel Emanuel sold 24,702 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $194.39, for a total value of $4,801,821.78. Following the completion of the transaction, the chief executive officer directly owned 174,334 shares in the company, valued at approximately $33,888,786.26. The trade was a 12.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Shapiro sold 19,120 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $194.39, for a total value of $3,716,736.80. Following the completion of the transaction, the insider owned 147,071 shares of the company’s stock, valued at $28,589,131.69. This represents a 11.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 110,815 shares of company stock worth $21,206,289. Company insiders own 64.30% of the company’s stock.

TKO Group Stock Performance

Shares of TKO Group stock opened at $189.24 on Friday. The company has a market capitalization of $35.82 billion, a PE ratio of 66.40 and a beta of 0.62. TKO Group Holdings, Inc. has a 12 month low of $176.00 and a 12 month high of $226.94. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $188.30 and its 200 day simple moving average is $194.58.

TKO Group (NYSE:TKO) last posted its earnings results on Monday, August 3rd. The company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.07). TKO Group had a return on equity of 2.67% and a net margin of 4.33%.The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. On average, research analysts predict that TKO Group Holdings, Inc. will post 5.18 EPS for the current year.

TKO Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.7%. TKO Group’s dividend payout ratio (DPR) is currently 110.88%.

About TKO Group

TKO Group Holdings, Inc is a sports and entertainment company formed in 2023 through the combination of Endeavor Group Holdings’ Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE) businesses. The company operates two globally recognized sports properties, producing live events and distributing related programming through television, streaming, digital media and other platforms.

UFC is a mixed martial arts organization that promotes events, develops athletes and licenses media rights, sponsorships, merchandise and other commercial products.