Canoe Financial LP Has $213.50 Million Stake in 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,642 shares of the business services provider's stock after selling 23,400 shares during the period. Moody's makes up approximately 3.0% of Canoe Financial LP's investment portfolio, making the stock its 7th biggest position. Canoe Financial LP owned 0.24% of Moody's worth $213,498,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its holdings in shares of Moody's by 1,000.0% during the first quarter. Wolff Wiese Magana LLC now owns 55 shares of the business services provider's stock worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Moody's during the first quarter worth $30,000. Central Pacific Bank Trust Division increased its holdings in shares of Moody's by 42.9% during the second quarter. Central Pacific Bank Trust Division now owns 80 shares of the business services provider's stock worth $40,000 after buying an additional 24 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Moody's by 5,050.0% during the first quarter. Golden State Wealth Management LLC now owns 103 shares of the business services provider's stock worth $48,000 after buying an additional 101 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Moody's during the first quarter worth $49,000. 92.11% of the stock is currently owned by institutional investors and hedge funds.

Moody's Stock Up 1.7%

NYSE MCO traded up $8.28 during trading hours on Monday, hitting $489.02. The company's stock had a trading volume of 1,198,968 shares, compared to its average volume of 781,991. Moody's Corporation has a 52 week low of $378.71 and a 52 week high of $531.93. The company has a market capitalization of $87.53 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 3.08 and a beta of 1.42. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.70. The company's 50-day simple moving average is $508.36 and its two-hundred day simple moving average is $480.01.

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, beating the consensus estimate of $3.39 by $0.17. Moody's had a net margin of 29.18% and a return on equity of 60.73%. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter last year, the firm earned $3.28 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Moody's has set its FY 2025 guidance at 13.500-14.000 EPS. Research analysts anticipate that Moody's Corporation will post 13.95 EPS for the current fiscal year.

Moody's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid a dividend of $0.94 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCO. Wells Fargo & Company upped their price target on shares of Moody's from $595.00 to $597.00 and gave the stock an "overweight" rating in a report on Friday. Mizuho boosted their price objective 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. Morgan Stanley boosted their price objective on shares of Moody's from $493.00 to $498.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. BMO Capital Markets boosted their price objective on shares of Moody's from $509.00 to $534.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, UBS Group boosted their price objective on shares of Moody's from $445.00 to $515.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $540.71.

Insider Activity at Moody's

In other 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 transaction of $455,891.28. Following the completion of the sale, the chief financial officer owned 2,148 shares in the company, valued at $1,091,699.52. This trade represents a 29.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael L. West sold 3,704 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $511.10, for a total transaction of $1,893,114.40. Following the sale, the insider owned 8,209 shares of the company's stock, valued at approximately $4,195,619.90. The trade was a 31.09% 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 worth $4,812,135 over the last 90 days. Corporate insiders own 0.14% of the company's stock.

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.