Baskin Financial Services Inc. boosted its position in shares of Moody’s Co. (NYSE:MCO) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,703 shares of the business services provider’s stock after purchasing an additional 908 shares during the period. Moody’s comprises 3.1% of Baskin Financial Services Inc.’s holdings, making the stock its 12th biggest holding. Baskin Financial Services Inc.’s holdings in Moody’s were worth $16,969,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Pearl River Capital LLC bought a new position in Moody’s in the 4th quarter worth about $28,000. JNBA Financial Advisors bought a new position in Moody’s in the 4th quarter worth about $43,000. JOYN Advisors Inc. grew its stake in Moody’s by 1,747.4% in the 4th quarter. JOYN Advisors Inc. now owns 351 shares of the business services provider’s stock worth $49,000 after acquiring an additional 332 shares in the last quarter. IMS Capital Management bought a new position in Moody’s in the 3rd quarter worth about $59,000. Finally, Lindbrook Capital LLC bought a new position in Moody’s in the 4th quarter worth about $52,000. Institutional investors own 93.68% of the company’s stock.
In other news, insider Raymond W. Mcdaniel sold 44,146 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $183.95, for a total value of $8,120,656.70. Following the completion of the sale, the insider now owns 229,749 shares of the company’s stock, valued at approximately $42,262,328.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.
Shares of MCO traded up $2.10 during mid-day trading on Monday, hitting $189.21. The company’s stock had a trading volume of 606,509 shares, compared to its average volume of 950,571. Moody’s Co. has a 52-week low of $129.26 and a 52-week high of $189.49. The stock has a market capitalization of $34.98 billion, a PE ratio of 25.60, a PEG ratio of 2.25 and a beta of 1.29. The company has a debt-to-equity ratio of 7.96, a quick ratio of 1.61 and a current ratio of 1.61.
Moody’s (NYSE:MCO) last announced its quarterly earnings results on Friday, February 15th. The business services provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.08). Moody’s had a return on equity of 268.11% and a net margin of 29.48%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company posted $1.51 EPS. Moody’s’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts forecast that Moody’s Co. will post 7.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 25th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, February 22nd. This is a boost from Moody’s’s previous quarterly dividend of $0.44. Moody’s’s dividend payout ratio is presently 27.06%.
MCO has been the topic of a number of research analyst reports. UBS Group upped their target price on shares of Moody’s from $170.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Cantor Fitzgerald restated a “hold” rating and issued a $145.00 target price on shares of Moody’s in a research note on Friday, February 15th. BMO Capital Markets upped their target price on shares of Moody’s to $182.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 20th. Piper Jaffray Companies upped their target price on shares of Moody’s from $178.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays dropped their target price on shares of Moody’s from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Moody’s has a consensus rating of “Hold” and an average target price of $174.60.
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.
See Also: Range Trading
Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.