Polen Capital Management LLC Sells 148,966 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Polen Capital Management LLC reduced its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 412,467 shares of the company’s stock after selling 148,966 shares during the quarter. Polen Capital Management LLC’s holdings in Tencent Music Entertainment Group were worth $7,231,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TME. Smartleaf Asset Management LLC bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $31,000. Allworth Financial LP boosted its stake in shares of Tencent Music Entertainment Group by 63.2% in the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock valued at $35,000 after purchasing an additional 573 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock valued at $57,000 after purchasing an additional 1,397 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Tencent Music Entertainment Group by 83.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Saranac Partners Ltd bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $99,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

TME 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 fifty day moving average price is $9.27 and its two-hundred day moving average price is $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 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 (NYSE:TME) last released its quarterly earnings data 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 firm had revenue of $1.15 billion for the quarter. On average, analysts expect 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 disclosed an annual dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.24 per share. 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 currently 28.75%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced 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 note on Thursday, May 14th. Benchmark reissued a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a research note on Thursday, March 19th. Daiwa Securities Group reissued a “hold” rating and set a $12.00 target price on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $23.00 target price on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group 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.