Dock Street Asset Management Inc. lowered its stake in Moody’s Co. (NYSE:MCO) by 5.2% during the first quarter, Holdings Channel reports. The institutional investor owned 66,324 shares of the business services provider’s stock after selling 3,636 shares during the period. Moody’s comprises approximately 4.1% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 9th biggest position. Dock Street Asset Management Inc.’s holdings in Moody’s were worth $12,011,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in MCO. Oregon Public Employees Retirement Fund grew its stake in Moody’s by 17,777.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,510,765 shares of the business services provider’s stock valued at $54,000 after buying an additional 7,468,752 shares during the last quarter. Norges Bank acquired a new position in Moody’s in the 4th quarter valued at about $214,495,000. FMR LLC grew its stake in Moody’s by 54.5% in the 4th quarter. FMR LLC now owns 3,962,568 shares of the business services provider’s stock valued at $554,918,000 after buying an additional 1,397,444 shares during the last quarter. Windacre Partnership LLC grew its stake in Moody’s by 204.6% in the 4th quarter. Windacre Partnership LLC now owns 1,617,300 shares of the business services provider’s stock valued at $226,487,000 after buying an additional 1,086,300 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Moody’s by 9.1% in the 4th quarter. BlackRock Inc. now owns 12,012,678 shares of the business services provider’s stock valued at $1,682,254,000 after buying an additional 999,278 shares during the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.
A number of analysts have issued reports on MCO shares. BMO Capital Markets boosted their price objective on shares of Moody’s to $172.00 and gave the company a “market perform” rating in a report on Tuesday, February 19th. UBS Group lowered their price objective on shares of Moody’s from $156.00 to $154.00 and set a “neutral” rating for the company in a research report on Tuesday, January 8th. Cantor Fitzgerald restated a “hold” rating and issued a $168.00 price target on shares of Moody’s in a research report on Wednesday, April 24th. ValuEngine upgraded shares of Moody’s from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, Zacks Investment Research cut shares of Moody’s from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Moody’s currently has a consensus rating of “Hold” and an average price target of $183.00.
Shares of MCO traded up $0.06 during trading hours on Monday, hitting $195.62. 8,743 shares of the stock were exchanged, compared to its average volume of 821,455. Moody’s Co. has a fifty-two week low of $129.26 and a fifty-two week high of $195.85. The company has a quick ratio of 1.61, a current ratio of 1.45 and a debt-to-equity ratio of 17.07. The stock has a market cap of $36.92 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.29.
Moody’s (NYSE:MCO) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.19. Moody’s had a net margin of 29.38% and a return on equity of 281.55%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $2.02 earnings per share. Moody’s’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Moody’s Co. will post 7.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, May 17th. Moody’s’s dividend payout ratio (DPR) is presently 27.06%.
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Moody's Corporation provides credit ratings; and credit, capital markets, and economic 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, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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