Crossmark Global Holdings Inc. lessened its position in shares of Moody’s Co. (NYSE:MCO) by 6.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,486 shares of the business services provider’s stock after selling 1,152 shares during the period. Crossmark Global Holdings Inc.’s holdings in Moody’s were worth $2,756,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. bought a new position in Moody’s during the third quarter worth $129,000. Flagship Harbor Advisors LLC bought a new position in Moody’s during the second quarter worth $140,000. Stratos Wealth Partners LTD. bought a new position in Moody’s during the third quarter worth $161,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Moody’s during the third quarter worth $192,000. Finally, United Asset Strategies Inc. bought a new position in Moody’s during the second quarter worth $201,000. 88.40% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on MCO shares. UBS Group reduced their price target on shares of Moody’s from $192.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 21st. Zacks Investment Research upgraded shares of Moody’s from a “sell” rating to a “hold” rating in a report on Friday, October 5th. ValuEngine cut shares of Moody’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. William Blair restated a “buy” rating on shares of Moody’s in a report on Sunday, August 12th. Finally, Cantor Fitzgerald reduced their price target on shares of Moody’s to $145.00 and set a “neutral” rating for the company in a report on Monday, October 29th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $177.33.
NYSE:MCO opened at $150.76 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 7.40. The firm has a market capitalization of $27.94 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.80 and a beta of 1.21. Moody’s Co. has a 12 month low of $139.11 and a 12 month high of $187.98.
Moody’s (NYSE:MCO) last issued its quarterly earnings data on Friday, October 26th. The business services provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.09). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.13 billion. Moody’s had a net margin of 23.85% and a return on equity of 412.48%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, research analysts anticipate that Moody’s Co. will post 7.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, November 20th. Moody’s’s dividend payout ratio is currently 29.00%.
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Moody's Corporation provides credit ratings; and credit, capital markets, and economic related 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 comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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