Olstein Capital Management L.P. Cuts Stake in Moody’s Co. (NYSE:MCO)

Olstein Capital Management L.P. trimmed its position in shares of Moody’s Co. (NYSE:MCO) by 36.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,100 shares of the business services provider’s stock after selling 2,400 shares during the quarter. Olstein Capital Management L.P.’s holdings in Moody’s were worth $1,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCO. New Covenant Trust Company N.A. bought a new position in Moody’s during the 1st quarter valued at about $27,000. Versant Capital Management Inc lifted its stake in shares of Moody’s by 114.3% in the 2nd quarter. Versant Capital Management Inc now owns 75 shares of the business services provider’s stock worth $32,000 after purchasing an additional 40 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Moody’s during the third quarter valued at approximately $36,000. Y.D. More Investments Ltd bought a new position in Moody’s in the second quarter worth approximately $35,000. Finally, Asset Dedication LLC boosted its stake in shares of Moody’s by 83.0% during the 3rd quarter. Asset Dedication LLC now owns 86 shares of the business services provider’s stock worth $41,000 after acquiring an additional 39 shares during the last quarter. 92.11% of the stock is currently owned by institutional investors.

Moody’s Stock Up 0.3 %

Shares of MCO traded up $1.27 during mid-day trading on Thursday, hitting $462.41. The company’s stock had a trading volume of 51,324 shares, compared to its average volume of 736,139. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.69. The company’s 50-day moving average is $475.02 and its 200-day moving average is $443.17. Moody’s Co. has a 52-week low of $334.78 and a 52-week high of $495.10. The firm has a market capitalization of $83.79 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 2.99 and a beta of 1.29.

Moody’s (NYSE:MCO) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.32. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Moody’s had a return on equity of 57.97% and a net margin of 29.05%. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 EPS. On average, equities research analysts forecast that Moody’s Co. will post 12.06 EPS for the current fiscal year.

Moody’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 22nd. Moody’s’s dividend payout ratio is currently 31.05%.

Insider Transactions at Moody’s

In other news, insider Stephen T. Tulenko sold 500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the completion of the sale, the insider now owns 6,647 shares of the company’s stock, valued at $3,084,606.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen T. Tulenko sold 500 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the transaction, the insider now directly owns 6,647 shares of the company’s stock, valued at $3,084,606.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Caroline Sullivan sold 1,681 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $462.40, for a total value of $777,294.40. Following the completion of the transaction, the senior vice president now owns 1,415 shares of the company’s stock, valued at approximately $654,296. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCO. BMO Capital Markets increased their price objective on shares of Moody’s from $455.00 to $464.00 and gave the company a “market perform” rating in a report on Tuesday, October 15th. Evercore ISI started coverage on shares of Moody’s in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $521.00 price target on the stock. Robert W. Baird raised their price objective on Moody’s from $490.00 to $512.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on Moody’s from $450.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Moody’s from $460.00 to $514.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $500.00.

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.