Armbruster Capital Management Inc. lowered its stake in Monsanto Co. (NYSE:MON) by 16.4% during the second quarter, Holdings Channel reports. The fund owned 1,022 shares of the company’s stock after selling 200 shares during the period. Armbruster Capital Management Inc.’s holdings in Monsanto were worth $106,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Glenview State Bank Trust DEPT. raised its stake in Monsanto by 2.4% in the second quarter. Glenview State Bank Trust DEPT. now owns 14,843 shares of the company’s stock valued at $1,535,000 after buying an additional 342 shares during the last quarter. Nordea Investment Management AB raised its stake in Monsanto by 17.6% in the second quarter. Nordea Investment Management AB now owns 151,356 shares of the company’s stock valued at $15,652,000 after buying an additional 22,637 shares in the last quarter. Enterprise Financial Services Corp raised its stake in Monsanto by 4.5% in the second quarter. Enterprise Financial Services Corp now owns 1,335 shares of the company’s stock valued at $138,000 after buying an additional 57 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in Monsanto during the second quarter valued at about $4,851,000. Finally, BP PLC acquired a new stake in Monsanto during the second quarter valued at about $8,175,000. Institutional investors and hedge funds own 78.94% of the company’s stock.
Shares of Monsanto Co. (NYSE:MON) traded up 0.56% on Tuesday, reaching $102.74. The company had a trading volume of 1,600,178 shares. Monsanto Co. has a one year low of $83.73 and a one year high of $114.26. The company’s 50-day moving average is $104.25 and its 200-day moving average is $102.04. The company has a market capitalization of $44.97 billion, a PE ratio of 34.38 and a beta of 1.19.
Monsanto (NYSE:MON) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. The business earned $2.56 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the business earned ($0.19) EPS. Monsanto’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Monsanto Co. will post $4.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. Monsanto’s dividend payout ratio is 71.05%.
Several analysts have issued reports on MON shares. Sanford C. Bernstein upgraded Monsanto from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $82.81 to $105.00 in a research note on Monday, September 26th. Goldman Sachs Group Inc. set a $92.00 price objective on Monsanto and gave the company a “sell” rating in a research note on Monday, June 27th. Jefferies Group restated a “buy” rating on shares of Monsanto in a research note on Tuesday, September 6th. Citigroup Inc. upped their price objective on Monsanto from $112.00 to $116.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Finally, Zacks Investment Research upgraded Monsanto from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $114.65.
In related news, EVP Steven Mizell sold 310 shares of Monsanto stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $103.09, for a total value of $31,957.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert T. Fraley sold 80,631 shares of Monsanto stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $102.04, for a total transaction of $8,227,587.24. Following the completion of the transaction, the executive vice president now owns 38,711 shares of the company’s stock, valued at $3,950,070.44. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
Monsanto Company (Monsanto), along with its subsidiaries, is a provider of agricultural products for farmers. The Company provides seeds, biotechnology trait products, herbicides and precision agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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