Campbell & CO Investment Adviser LLC purchased a new stake in shares of Moody’s Co. (NYSE:MCO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 791 shares of the business services provider’s stock, valued at approximately $217,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCO. Fred Alger Management LLC purchased a new stake in Moody’s during the first quarter valued at about $26,000. Jacobi Capital Management LLC raised its position in Moody’s by 941.7% during the second quarter. Jacobi Capital Management LLC now owns 1,000 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 904 shares in the last quarter. Allred Capital Management LLC raised its position in Moody’s by 42.4% during the first quarter. Allred Capital Management LLC now owns 141 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. MBE Wealth Management LLC purchased a new stake in Moody’s during the first quarter valued at about $44,000. Finally, EPG Wealth Management LLC raised its position in Moody’s by 132.4% during the first quarter. EPG Wealth Management LLC now owns 244 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.
Shares of NYSE:MCO opened at $281.30 on Friday. Moody’s Co. has a 1 year low of $164.19 and a 1 year high of $296.66. The company has a market cap of $53.21 billion, a PE ratio of 34.90, a P/E/G ratio of 3.17 and a beta of 1.19. The company has a debt-to-equity ratio of 9.17, a current ratio of 2.10 and a quick ratio of 1.70. The stock’s 50-day moving average is $281.46 and its 200 day moving average is $255.09.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a dividend of $0.56 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.24 dividend on an annualized basis and a yield of 0.80%. Moody’s’s dividend payout ratio is presently 27.02%.
A number of equities research analysts have weighed in on MCO shares. Goldman Sachs Group raised their price target on Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. Credit Suisse Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Moody’s in a report on Tuesday. BMO Capital Markets lifted their price objective on Moody’s from $285.00 to $298.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Oppenheimer initiated coverage on Moody’s in a report on Monday, May 18th. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, UBS Group lifted their price objective on Moody’s from $344.00 to $358.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Moody’s presently has an average rating of “Buy” and a consensus price target of $286.85.
In other Moody’s news, insider Stephen T. Tulenko sold 1,500 shares of Moody’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $293.01, for a total transaction of $439,515.00. Following the sale, the insider now directly owns 8,044 shares of the company’s stock, valued at approximately $2,356,972.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of Moody’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $245.64, for a total value of $1,842,300.00. Following the sale, the chief executive officer now directly owns 242,131 shares in the company, valued at $59,477,058.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,727 shares of company stock worth $16,235,465. 0.79% of the stock is owned by company insiders.
Moody’s Company Profile
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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