CIBC World Markets Inc. bought a new stake in Moody’s Co. (NYSE:MCO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,053 shares of the business services provider’s stock, valued at approximately $331,000.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in Moody’s by 3.5% during the 1st quarter. BlackRock Inc. now owns 10,928,167 shares of the business services provider’s stock worth $1,762,712,000 after purchasing an additional 370,256 shares during the period. Wells Fargo & Company MN boosted its stake in Moody’s by 80.6% during the 1st quarter. Wells Fargo & Company MN now owns 730,412 shares of the business services provider’s stock worth $117,815,000 after purchasing an additional 326,025 shares during the period. Winslow Capital Management LLC boosted its stake in Moody’s by 20.6% during the 1st quarter. Winslow Capital Management LLC now owns 1,651,735 shares of the business services provider’s stock worth $266,425,000 after purchasing an additional 282,513 shares during the period. Millennium Management LLC boosted its stake in Moody’s by 2,056.1% during the 1st quarter. Millennium Management LLC now owns 294,820 shares of the business services provider’s stock worth $47,554,000 after purchasing an additional 281,146 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Moody’s by 136.7% during the 4th quarter. Renaissance Technologies LLC now owns 466,500 shares of the business services provider’s stock worth $68,860,000 after purchasing an additional 269,400 shares during the period. Institutional investors and hedge funds own 88.27% of the company’s stock.
Shares of Moody’s stock opened at $172.81 on Friday. The firm has a market cap of $32.58 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.82 and a beta of 1.20. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 12.19. Moody’s Co. has a one year low of $122.06 and a one year high of $179.84.
Moody’s (NYSE:MCO) last announced its quarterly earnings data on Friday, April 27th. The business services provider reported $2.02 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.22. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Moody’s had a net margin of 23.60% and a negative return on equity of 1,599.12%. Moody’s’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 EPS. equities research analysts forecast that Moody’s Co. will post 7.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Monday, May 21st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 18th. This represents a $1.76 dividend on an annualized basis and a yield of 1.02%. Moody’s’s payout ratio is currently 29.00%.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Moody’s from a “buy” rating to a “hold” rating and set a $182.00 price target for the company. in a research note on Wednesday, April 11th. BMO Capital Markets decreased their price target on shares of Moody’s from $173.00 to $169.00 and set a “market perform” rating for the company in a research note on Monday, April 30th. Morgan Stanley increased their price target on shares of Moody’s from $168.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 12th. TheStreet upgraded shares of Moody’s from a “c+” rating to a “b” rating in a research note on Wednesday, May 2nd. Finally, Nomura increased their price target on shares of Moody’s from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $172.08.
In other news, SVP Blair Worrall sold 5,862 shares of the stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $173.85, for a total value of $1,019,108.70. Following the completion of the transaction, the senior vice president now owns 18,509 shares in the company, valued at approximately $3,217,789.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raymond W. Mcdaniel sold 10,000 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $173.17, for a total transaction of $1,731,700.00. Following the completion of the transaction, the chief executive officer now owns 126,025 shares of the company’s stock, valued at approximately $21,823,749.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,371 shares of company stock valued at $13,566,798. 1.00% of the stock is owned by insiders.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic related research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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