Cboe Global Markets (NASDAQ:CBOE) Cut to Underweight at Morgan Stanley

Morgan Stanley downgraded shares of Cboe Global Markets (NASDAQ:CBOE) from an overweight rating to an underweight rating in a research report report published on Wednesday, MarketBeat.com reports. Morgan Stanley currently has $215.00 target price on the stock, down from their previous target price of $256.00.

CBOE has been the topic of several other reports. Oppenheimer increased their price target on shares of Cboe Global Markets from $237.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Loop Capital set a $227.00 price target on shares of Cboe Global Markets in a research note on Monday, May 5th. Barclays increased their price target on shares of Cboe Global Markets from $232.00 to $245.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. StockNews.com upgraded shares of Cboe Global Markets from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler increased their price target on shares of Cboe Global Markets from $234.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $219.64.

Cboe Global Markets Stock Up 0.8%

Shares of NASDAQ:CBOE opened at $220.95 on Wednesday. The company has a 50 day moving average price of $217.91. The firm has a market capitalization of $23.14 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.75 and a beta of 0.44. Cboe Global Markets has a fifty-two week low of $166.13 and a fifty-two week high of $236.02. The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34.

Cboe Global Markets (NASDAQ:CBOE) last issued its earnings results on Friday, May 2nd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.15 EPS. On average, equities analysts anticipate that Cboe Global Markets will post 8.96 EPS for the current year.

Cboe Global Markets Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.14%. Cboe Global Markets’s dividend payout ratio (DPR) is presently 33.03%.

Insider Transactions at Cboe Global Markets

In related news, CAO Allen Wilkinson sold 228 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $211.12, for a total transaction of $48,135.36. Following the completion of the sale, the chief accounting officer now directly owns 248 shares of the company’s stock, valued at $52,357.76. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Adam Inzirillo sold 200 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $209.67, for a total value of $41,934.00. Following the sale, the executive vice president now directly owns 1,993 shares of the company’s stock, valued at approximately $417,872.31. This represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

Hedge funds have recently modified their holdings of the stock. New York Life Investment Management LLC lifted its holdings in Cboe Global Markets by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 15,531 shares of the company’s stock valued at $3,035,000 after acquiring an additional 48 shares during the period. Summit Financial LLC lifted its holdings in Cboe Global Markets by 0.4% in the fourth quarter. Summit Financial LLC now owns 10,908 shares of the company’s stock valued at $2,131,000 after acquiring an additional 48 shares during the period. Ritholtz Wealth Management lifted its holdings in Cboe Global Markets by 0.9% in the first quarter. Ritholtz Wealth Management now owns 5,592 shares of the company’s stock valued at $1,265,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Cboe Global Markets by 1.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,864 shares of the company’s stock valued at $874,000 after acquiring an additional 48 shares during the period. Finally, Pekin Hardy Strauss Inc. lifted its holdings in Cboe Global Markets by 0.5% in the first quarter. Pekin Hardy Strauss Inc. now owns 10,765 shares of the company’s stock valued at $2,436,000 after acquiring an additional 49 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

Cboe Global Markets Company Profile

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.