Canoe Financial LP Sells 23,400 Shares of Moody's Corporation $MCO

Key Points

• Canoe Financial LP has reduced its stake in Moody's Corporation by 5.2%, selling 23,400 shares, and now owns approximately 425,642 shares, representing about 3.0% of its portfolio.
• The stock price of Moody's fell by 5.6%, with current trading reflecting a market cap of $86.51 billion and analysts projecting a consensus target price of $540.57.
• Moody's recently announced a quarterly dividend of $0.94 per share, which amounts to an annualized dividend yield of 0.8% and a payout ratio of 31.95%.

Canoe Financial LP reduced its position in shares of Moody's Corporation (NYSE:MCO - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,642 shares of the business services provider's stock after selling 23,400 shares during the period. Moody's comprises about 3.0% of Canoe Financial LP's holdings, making the stock its 7th largest holding. Canoe Financial LP owned about 0.24% of Moody's worth $213,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its holdings in Moody's by 1,000.0% in the first quarter. Wolff Wiese Magana LLC now owns 55 shares of the business services provider's stock valued at $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank acquired a new position in shares of Moody's during the 1st quarter worth about $30,000. Central Pacific Bank Trust Division boosted its position in shares of Moody's by 42.9% during the 2nd quarter. Central Pacific Bank Trust Division now owns 80 shares of the business services provider's stock worth $40,000 after acquiring an additional 24 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Moody's by 5,050.0% during the 1st quarter. Golden State Wealth Management LLC now owns 103 shares of the business services provider's stock worth $48,000 after acquiring an additional 101 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Moody's during the 1st quarter worth about $49,000. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Moody's

In other Moody's news, CFO Noemie Clemence Heuland sold 897 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $508.24, for a total value of $455,891.28. Following the sale, the chief financial officer owned 2,148 shares in the company, valued at approximately $1,091,699.52. This trade represents a 29.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Fauber sold 415 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $512.65, for a total transaction of $212,749.75. Following the completion of the sale, the chief executive officer owned 61,350 shares in the company, valued at $31,451,077.50. The trade was a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,423 shares of company stock valued at $4,812,135 over the last ninety days. Insiders own 0.14% of the company's stock.

Moody's Stock Down 1.8%

Moody's stock traded down $9.00 during trading on Tuesday, reaching $479.29. 296,170 shares of the company's stock were exchanged, compared to its average volume of 781,430. The company's 50-day moving average is $508.06 and its two-hundred day moving average is $480.20. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.75 and a current ratio of 1.75. Moody's Corporation has a 52-week low of $378.71 and a 52-week high of $531.93. The firm has a market cap of $85.79 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 3.08 and a beta of 1.42.

Moody's (NYSE:MCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.39 by $0.17. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.82 billion. Moody's had a net margin of 29.18% and a return on equity of 60.73%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.28 EPS. Moody's has set its FY 2025 guidance at 13.500-14.000 EPS. On average, analysts predict that Moody's Corporation will post 13.95 earnings per share for the current year.

Moody's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.76 annualized dividend and a dividend yield of 0.8%. Moody's's dividend payout ratio (DPR) is presently 31.95%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCO shares. Wells Fargo & Company upped their price objective on Moody's from $595.00 to $597.00 and gave the stock an "overweight" rating in a research report on Friday. BMO Capital Markets upped their target price on Moody's from $509.00 to $534.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Morgan Stanley increased their price objective on Moody's from $493.00 to $498.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price objective on Moody's from $495.00 to $565.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Mizuho increased their price target on shares of Moody's from $496.00 to $532.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $540.71.

About Moody's

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.