Moody’s Company (NYSE: MCO), a renowned business services provider, recently saw a slight decrease in its stake from Chevy Chase Trust Holdings LLC during the second quarter. Chevy Chase Trust Holdings LLC reduced its ownership by 0.8% or 789 shares, leaving them with 98,696 shares of Moody’s stock. As of the end of the reporting period, these shares were valued at approximately $34,319,000, accounting for around 0.05% of Moody’s total worth.
The adjustment in ownership was disclosed in Moody’s most recent filing with the Securities and Exchange Commission (SEC). This regulatory body oversees financial securities to ensure transparency and protect investors’ interests.
On July 25th, Moody’s announced its quarterly earnings report. The company exceeded analysts’ expectations by reporting earnings per share (EPS) of $2.30 for the quarter, surpassing estimates by $0.07. Additionally, Moody’s generated $1.49 billion in revenue during this period compared to the consensus estimate of $1.45 billion.
Notably, Moody’s exhibited strong financial performance with regards to return on equity (ROE) and net margin figures. The company showcased an impressive ROE of 55.98% along with a robust net margin of 25.81%. These metrics reflect the company’s ability to generate profits efficiently and provide favorable returns to its shareholders.
Furthermore, Moody’s demonstrated growth as their revenue increased by 8.2% when compared to the same quarter last year. In the corresponding period in the previous year, they achieved an EPS figure of $2.22.
According to equities research analysts’ predictions, Moody’s Co., for the current year is expected to post earnings per share amounting to $10.02.
Investors and industry experts continuously monitor such reports as they shed light on a company’s financial health and overall performance within its respective industry.
As time progresses, investors and analysts will keep a keen eye on Moody’s as they release further financial updates. These reports enable stakeholders to make informed decisions regarding their investments.
If you are interested in staying up-to-date with detailed research and analysis on Moody’s Company (MCO), we recommend accessing our latest research report. This report encompasses comprehensive insights into the company’s current standing, future growth prospects, and potential investment opportunities that may arise in the market.
Please note that these details pertain to information available as of October 8th, 2023. Any subsequent developments or announcements made by Moody’s or any relevant parties may impact the accuracy and relevance of this information.
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Moody’s Co. Attracts Attention from Hedge Funds and Institutional Investors, Leaving Investors Puzzled about Future Direction
October 8, 2023 – Moody’s Co. (NYSE:MCO) continues to attract the attention of hedge funds and institutional investors, as many have either increased their stakes or reduced them in the company. This perplexing trend in the market has led to speculation among investors and analysts about the future direction of Moody’s stock.
One such hedge fund that has recently added to its stake in Moody’s is Quantinno Capital Management LP, which increased its ownership by 32.8% during the first quarter. The firm now owns 2,632 shares of Moody’s stock valued at $806,000 after acquiring an additional 650 shares during that period. Relyea Zuckerberg Hanson LLC also made a notable move by purchasing a new position in Moody’s worth $258,000 during the second quarter. These actions by hedge funds signify their confidence and belief in the company’s potential for growth.
In addition to hedge funds, other institutional investors have also shown interest in Moody’s. Dupont Capital Management Corp increased its stake in the business services provider by 10.6% during the first quarter, now owning 33,691 shares valued at $10,310,000 after purchasing an additional 3,224 shares. Similarly, FIL Ltd increased its stake by 5.5% during the same period and now owns 116,251 shares valued at $35,575,000 after acquiring an additional 6,110 shares.
CX Institutional also demonstrated faith in Moody’s by increasing its stake by 22.6% in the first quarter. This institution currently holds 895 shares valued at $273,000 after adding an extra 165 shares to its portfolio. In fact, institutional investors own a significant portion of the company’s stock – approximately 90.07%.
Moody’s opened at $317.11 on Friday with a market capitalization of around $58.19 billion and a price-to-earnings ratio of 40.86. The company’s stock has a beta of 1.30, indicating its sensitivity to market fluctuations. Moody’s debt-to-equity ratio stands at 2.09, and it boasts a current ratio and quick ratio of 1.65, showcasing its strong liquidity position.
The company’s 50-day moving average is $333.14, while its 200-day moving average is $326.10. This data provides investors with insight into the short-term and long-term price trends for Moody’s stock, allowing them to make more informed investment decisions.
Moody’s also recently announced a quarterly dividend payment on Friday, September 8th. Stockholders of record on Friday, August 18th were granted a $0.77 dividend. This reflects an annualized dividend rate of $3.08 and a dividend yield of 0.97%. Investors can expect this quarterly dividend payout to remain consistent based on Moody’s current dividend payout ratio of 39.69%.
Analysts from various brokerages have been monitoring Moody’s and providing recommendations based on their findings. StockNews.com initiated coverage by giving the stock a “hold” rating. Barclays raised their price target from $300 to $350 in July, while The Goldman Sachs Group raised their price objective from $328 to $362 in early July as well, assigning a “neutral” rating to the company.
Similarly, Wells Fargo & Company raised their price objective from $346 to $365 in late July, further adding to the mixed opinions surrounding the stock’s potential future value. Morgan Stanley took a different approach and reduced their price objective from $345 to $332, issuing an “equal weight” rating for Moody’s shares.
In conclusion, Moody’s Co.’s recent activities have left many investors puzzled about its future trajectory in the market amid interest from hedge funds and institutional investors alike. With diverging opinions from various analysts and experts, investors must carefully consider their options before making any investment decisions. The consensus rating of “Hold” and the consensus target price of $330.13, according to Bloomberg, highlight the current uncertainty surrounding Moody’s stock.
