Mackenzie Financial Corp Decreases Stake in Moody's Co. (MCO)

Mackenzie Financial Corp trimmed its stake in shares of Moody's Co. (NYSE:MCO) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 296,447 shares of the business services provider’s stock after selling 15,433 shares during the period. Mackenzie Financial Corp owned approximately 0.16% of Moody's worth $41,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCO. Candriam Luxembourg S.C.A. increased its holdings in Moody's by 10.6% during the second quarter. Candriam Luxembourg S.C.A. now owns 20,183 shares of the business services provider’s stock valued at $2,456,000 after buying an additional 1,933 shares during the last quarter. Korea Investment CORP increased its holdings in Moody's by 115.4% during the second quarter. Korea Investment CORP now owns 93,398 shares of the business services provider’s stock valued at $11,365,000 after buying an additional 50,035 shares during the last quarter. Smithfield Trust Co. increased its holdings in Moody's by 6.7% during the second quarter. Smithfield Trust Co. now owns 1,427 shares of the business services provider’s stock valued at $174,000 after buying an additional 90 shares during the last quarter. IFP Advisors Inc increased its holdings in Moody's by 78.1% during the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock valued at $139,000 after buying an additional 502 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Moody's by 0.6% during the second quarter. Retirement Systems of Alabama now owns 80,694 shares of the business services provider’s stock valued at $9,819,000 after buying an additional 456 shares during the last quarter. 87.49% of the stock is owned by hedge funds and other institutional investors.

Shares of Moody's Co. (MCO) traded up $0.33 during midday trading on Wednesday, hitting $152.08. 724,500 shares of the stock were exchanged, compared to its average volume of 839,772. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of -32.57. The stock has a market capitalization of $28,999.43, a PE ratio of 26.48, a PEG ratio of 2.69 and a beta of 1.36. Moody's Co. has a 1 year low of $93.51 and a 1 year high of $153.86.

Moody's (NYSE:MCO) last announced its quarterly earnings data on Friday, November 3rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $992.81 million. Moody's had a net margin of 13.73% and a negative return on equity of 187.20%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 earnings per share. sell-side analysts expect that Moody's Co. will post 5.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be paid a $0.38 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.00%. Moody's’s dividend payout ratio (DPR) is presently 54.29%.

In related news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $138.41, for a total transaction of $69,205.00. Following the completion of the transaction, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the transaction, the insider now owns 292,310 shares of the company’s stock, valued at approximately $39,216,309.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,716 shares of company stock valued at $6,703,384. Corporate insiders own 1.17% of the company’s stock.

A number of analysts have commented on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $148.00 target price on shares of Moody's in a report on Wednesday, November 29th. UBS upped their target price on shares of Moody's from $138.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, August 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $143.00 target price on shares of Moody's in a report on Friday, October 13th. Morgan Stanley reaffirmed an “equal weight” rating and set a $135.00 target price (up from $134.00) on shares of Moody's in a report on Friday, October 6th. Finally, Zacks Investment Research cut shares of Moody's from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $151.89.

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Moody's Profile

Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.

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Institutional Ownership by Quarter for Moody's (NYSE:MCO)

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