604 Shares in Moody’s Co. (NYSE:MCO) Bought by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new position in shares of Moody’s Co. (NYSE:MCO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 604 shares of the business services provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Moody’s during the 3rd quarter valued at about $35,000. Raleigh Capital Management Inc. increased its position in shares of Moody’s by 87.7% during the third quarter. Raleigh Capital Management Inc. now owns 122 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 57 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in Moody’s during the 3rd quarter valued at $52,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Moody’s in the 3rd quarter worth $63,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Moody’s during the 4th quarter valued at $64,000. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

Moody’s Stock Performance

NYSE MCO traded up $0.95 during trading hours on Friday, hitting $376.13. The company had a trading volume of 718,453 shares, compared to its average volume of 670,299. The firm has a market cap of $68.64 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 2.96 and a beta of 1.27. The business has a fifty day simple moving average of $384.28 and a 200-day simple moving average of $371.37. Moody’s Co. has a fifty-two week low of $296.45 and a fifty-two week high of $407.62. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.01.

Moody’s (NYSE:MCO) last announced its earnings results on Tuesday, February 13th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.14). Moody’s had a net margin of 27.16% and a return on equity of 55.23%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts predict that Moody’s Co. will post 10.77 EPS for the current year.

Moody’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a $0.85 dividend. This is a positive change from Moody’s’s previous quarterly dividend of $0.77. This represents a $3.40 annualized dividend and a yield of 0.90%. The ex-dividend date was Thursday, February 22nd. Moody’s’s payout ratio is 38.95%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCO shares. Royal Bank of Canada reissued an “outperform” rating and issued a $450.00 price objective on shares of Moody’s in a research report on Wednesday, February 14th. UBS Group increased their price target on Moody’s from $355.00 to $380.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Robert W. Baird reduced their price target on shares of Moody’s from $425.00 to $405.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Wells Fargo & Company reduced their price target on shares of Moody’s from $455.00 to $420.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Finally, BMO Capital Markets cut their target price on shares of Moody’s from $430.00 to $414.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $397.75.

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.