BMO Capital Markets restated their outperform rating on shares of Moody’s (NYSE:MCO) in a report issued on Thursday, The Fly reports. They currently have a $294.00 price target on the business services provider’s stock.
MCO has been the topic of several other reports. Cantor Fitzgerald upped their price objective on Moody’s from $233.00 to $266.00 and gave the stock a neutral rating in a report on Thursday. Stifel Nicolaus reaffirmed a hold rating and set a $228.00 price objective on shares of Moody’s in a report on Thursday, January 2nd. Morgan Stanley raised Moody’s from an underweight rating to an equal weight rating and upped their price objective for the stock from $181.00 to $224.00 in a report on Tuesday, January 7th. William Blair reaffirmed an outperform rating on shares of Moody’s in a report on Thursday, October 31st. Finally, Zacks Investment Research raised Moody’s from a hold rating to a buy rating and set a $240.00 price objective on the stock in a report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $251.64.
NYSE MCO traded up $5.06 during trading hours on Thursday, reaching $277.83. The company’s stock had a trading volume of 931,939 shares, compared to its average volume of 739,963. The company has a market capitalization of $51.77 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.97 and a beta of 1.21. Moody’s has a 1 year low of $166.01 and a 1 year high of $278.00. The firm’s 50-day moving average price is $253.86 and its 200-day moving average price is $226.77. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 7.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Tuesday, February 25th will be issued a $0.56 dividend. This is a positive change from Moody’s’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 0.81%. The ex-dividend date is Monday, February 24th. Moody’s’s dividend payout ratio (DPR) is presently 27.06%.
In other Moody’s news, EVP John J. Goggins sold 8,508 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $237.08, for a total value of $2,017,076.64. Following the sale, the executive vice president now directly owns 61,934 shares of the company’s stock, valued at $14,683,312.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Fauber sold 3,721 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $266.95, for a total value of $993,320.95. Following the completion of the transaction, the insider now owns 49,591 shares in the company, valued at approximately $13,238,317.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,902 shares of company stock worth $5,004,457. 0.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vident Investment Advisory LLC lifted its position in shares of Moody’s by 1.5% in the fourth quarter. Vident Investment Advisory LLC now owns 2,442 shares of the business services provider’s stock valued at $580,000 after acquiring an additional 37 shares in the last quarter. Fishman Jay A Ltd. MI lifted its position in Moody’s by 1.9% during the fourth quarter. Fishman Jay A Ltd. MI now owns 2,139 shares of the business services provider’s stock worth $508,000 after buying an additional 39 shares in the last quarter. Synovus Financial Corp lifted its position in Moody’s by 4.9% during the fourth quarter. Synovus Financial Corp now owns 862 shares of the business services provider’s stock worth $204,000 after buying an additional 40 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Moody’s by 4.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,229 shares of the business services provider’s stock worth $292,000 after buying an additional 51 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Moody’s by 3.7% during the fourth quarter. Signaturefd LLC now owns 1,446 shares of the business services provider’s stock worth $343,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
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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