Canada Pension Plan Investment Board Has $165.78 Million Stake in Tencent Music Entertainment Group (NYSE:TME)

Canada Pension Plan Investment Board decreased its position in Tencent Music Entertainment Group (NYSE:TME) by 44.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,815,039 shares of the company’s stock after selling 11,737,474 shares during the quarter. Canada Pension Plan Investment Board owned about 0.86% of Tencent Music Entertainment Group worth $165,780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tobam acquired a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $36,000. Lindbrook Capital LLC boosted its stake in shares of Tencent Music Entertainment Group by 40.9% in the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock valued at $63,000 after buying an additional 2,044 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $90,000. Parallel Advisors LLC boosted its stake in shares of Tencent Music Entertainment Group by 27.1% in the fourth quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock valued at $98,000 after buying an additional 2,328 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Tencent Music Entertainment Group by 24.7% in the fourth quarter. QRG Capital Management Inc. now owns 14,624 shares of the company’s stock valued at $132,000 after buying an additional 2,898 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Benchmark boosted their price target on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Mizuho boosted their price target on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.75.

Tencent Music Entertainment Group Trading Down 2.4 %

NYSE TME traded down $0.34 on Friday, reaching $14.09. The company had a trading volume of 6,582,750 shares, compared to its average volume of 6,948,051. The firm has a market cap of $24.18 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 1.08 and a beta of 0.68. Tencent Music Entertainment Group has a fifty-two week low of $5.70 and a fifty-two week high of $15.77. The business has a 50 day moving average of $14.58 and a two-hundred day moving average of $12.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The business had revenue of $937.00 million during the quarter, compared to the consensus estimate of $904.29 million. Analysts forecast that Tencent Music Entertainment Group will post 0.62 EPS for the current year.

Tencent Music Entertainment Group Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, May 31st were issued a dividend of $0.121 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 0.78%. Tencent Music Entertainment Group’s payout ratio is currently 28.26%.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.