Barings LLC cut its position in shares of Moody’s Co. (NYSE:MCO) by 36.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,405 shares of the business services provider’s stock after selling 2,550 shares during the quarter. Barings LLC’s holdings in Moody’s were worth $751,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MCO. NuWave Investment Management LLC increased its position in shares of Moody’s by 327.3% during the 1st quarter. NuWave Investment Management LLC now owns 641 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 491 shares during the period. Synovus Financial Corp acquired a new position in shares of Moody’s during the 1st quarter valued at $129,000. Pettee Investors Inc. acquired a new position in shares of Moody’s during the 1st quarter valued at $201,000. Mariner LLC acquired a new position in shares of Moody’s during the 1st quarter valued at $202,000. Finally, Sciencast Management LP acquired a new position in shares of Moody’s during the 1st quarter valued at $206,000. Institutional investors own 88.26% of the company’s stock.
In other news, EVP John J. Goggins sold 26,254 shares of Moody’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $172.55, for a total transaction of $4,530,127.70. Following the transaction, the executive vice president now owns 86,173 shares in the company, valued at $14,869,151.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond W. Mcdaniel sold 10,000 shares of Moody’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $176.16, for a total value of $1,761,600.00. Following the transaction, the insider now owns 153,888 shares in the company, valued at approximately $27,108,910.08. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Moody’s (NYSE:MCO) last issued its quarterly earnings results on Friday, July 27th. The business services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.16. Moody’s had a return on equity of 907.23% and a net margin of 24.10%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. Moody’s’s revenue for the quarter was up 17.5% compared to the same quarter last year. research analysts expect that Moody’s Co. will post 7.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 20th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.03%. Moody’s’s dividend payout ratio is 29.00%.
A number of equities analysts recently issued reports on MCO shares. Nomura decreased their target price on Moody’s from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Monday, July 9th. Stifel Nicolaus lifted their target price on Moody’s from $170.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, July 30th. BMO Capital Markets lifted their target price on Moody’s from $179.00 to $183.00 and gave the stock a “market perform” rating in a report on Monday, July 30th. William Blair restated a “buy” rating on shares of Moody’s in a report on Sunday. Finally, Zacks Investment Research upgraded Moody’s from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Moody’s presently has a consensus rating of “Hold” and an average price target of $175.67.
Moody’s Company Profile
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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