Addenda Capital Inc. Sells 578 Shares of Moody’s Co. (NYSE:MCO)

Addenda Capital Inc. trimmed its stake in shares of Moody’s Co. (NYSE:MCO) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,016 shares of the business services provider’s stock after selling 578 shares during the quarter. Addenda Capital Inc.’s holdings in Moody’s were worth $3,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Moody’s during the 1st quarter valued at $35,000. Raleigh Capital Management Inc. raised its stake in shares of Moody’s by 87.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 122 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 57 shares during the period. Advantage Trust Co bought a new stake in shares of Moody’s during the 4th quarter valued at $52,000. Tompkins Financial Corp increased its stake in Moody’s by 200.0% in the 1st quarter. Tompkins Financial Corp now owns 150 shares of the business services provider’s stock worth $59,000 after acquiring an additional 100 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Moody’s in the 4th quarter worth about $64,000. 92.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upgraded Moody’s from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $375.00 to $450.00 in a research note on Tuesday, April 2nd. Oppenheimer increased their price objective on Moody’s from $411.00 to $424.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus increased their price objective on Moody’s from $350.00 to $374.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. StockNews.com upgraded Moody’s from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird increased their price objective on Moody’s from $405.00 to $414.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Moody’s has a consensus rating of “Moderate Buy” and an average price target of $400.50.

Moody’s Stock Up 0.4 %

Shares of NYSE:MCO opened at $420.93 on Friday. The stock has a fifty day simple moving average of $402.52 and a two-hundred day simple moving average of $391.58. The stock has a market capitalization of $76.86 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 3.26 and a beta of 1.27. Moody’s Co. has a 12-month low of $298.86 and a 12-month high of $428.79. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.68.

Moody’s (NYSE:MCO) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.31. Moody’s had a return on equity of 54.50% and a net margin of 27.01%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business earned $2.99 earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. On average, research analysts anticipate that Moody’s Co. will post 10.69 earnings per share for the current fiscal year.

Moody’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 17th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Thursday, May 16th. Moody’s’s dividend payout ratio is currently 37.12%.

Moody’s Profile

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.