Polen Capital Management LLC Lowers Stock Position in Tencent Music Entertainment Group Sponsored ADR $TME

Polen Capital Management LLC lowered its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 412,467 shares of the company’s stock after selling 148,966 shares during the period. Polen Capital Management LLC’s holdings in Tencent Music Entertainment Group were worth $7,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TME. Norges Bank purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $94,360,000. Green Court Capital Management Ltd raised its holdings in shares of Tencent Music Entertainment Group by 467.2% in the fourth quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company’s stock valued at $108,729,000 after purchasing an additional 4,854,084 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tencent Music Entertainment Group by 312.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company’s stock valued at $101,049,000 after purchasing an additional 4,366,226 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in shares of Tencent Music Entertainment Group by 25.4% in the third quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock valued at $421,593,000 after purchasing an additional 3,856,410 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Tencent Music Entertainment Group in the third quarter valued at about $88,175,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 0.8%

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

Tencent Music Entertainment Group (NYSE:TME) last released its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The firm 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%. As a group, equities analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current year.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd were paid a $0.24 dividend. The ex-dividend date was Thursday, April 2nd. This is a positive change 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 is presently 28.75%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TME shares. Barclays lowered their target price on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. UBS Group reiterated a “neutral” rating and issued a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Mizuho lowered their target price on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Morgan Stanley reiterated an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.