Essex Financial Services Inc. cut its stake in shares of Monsanto Co. (NYSE:MON) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,784 shares of the company’s stock after selling 998 shares during the period. Essex Financial Services Inc.’s holdings in Monsanto were worth $598,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Monsanto by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 828,673 shares of the company’s stock valued at $72,708,000 after buying an additional 18,961 shares during the period. Credit Agricole S A increased its position in shares of Monsanto by 20.7% in the first quarter. Credit Agricole S A now owns 301,549 shares of the company’s stock valued at $26,458,000 after buying an additional 51,709 shares during the period. State Street Corp increased its position in shares of Monsanto by 0.9% in the first quarter. State Street Corp now owns 18,623,044 shares of the company’s stock valued at $1,634,002,000 after buying an additional 173,201 shares during the period. Meeder Asset Management Inc. increased its position in shares of Monsanto by 1,962.5% in the first quarter. Meeder Asset Management Inc. now owns 8,250 shares of the company’s stock valued at $724,000 after buying an additional 7,850 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of Monsanto by 3.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,850 shares of the company’s stock valued at $426,000 after buying an additional 150 shares during the period. Institutional investors own 78.94% of the company’s stock.
Shares of Monsanto Co. (NYSE:MON) traded up 0.06% during midday trading on Monday, hitting $102.17. 1,729,583 shares of the company’s stock traded hands. The firm has a market capitalization of $44.72 billion, a price-to-earnings ratio of 34.19 and a beta of 1.19. Monsanto Co. has a 1-year low of $83.73 and a 1-year high of $114.26. The company has a 50 day moving average price of $104.25 and a 200 day moving average price of $102.04.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. The firm earned $2.56 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business posted ($0.19) earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Monsanto Co. will post $4.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, October 5th. Monsanto’s dividend payout ratio (DPR) is presently 71.05%.
Several research analysts have weighed in on MON shares. Goldman Sachs Group Inc. set a $92.00 price target on Monsanto and gave the company a “sell” rating in a report on Monday, June 27th. Vetr upgraded Monsanto from a “buy” rating to a “strong-buy” rating and set a $116.55 price objective for the company in a report on Monday, June 27th. Jefferies Group restated a “buy” rating on shares of Monsanto in a report on Wednesday, June 29th. Deutsche Bank AG restated a “buy” rating and set a $118.00 price objective on shares of Monsanto in a report on Thursday, June 30th. Finally, Piper Jaffray Cos. dropped their price objective on Monsanto from $127.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, June 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $114.65.
In related news, EVP Robert T. Fraley sold 80,631 shares of the stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $102.04, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles S. Mcmillan purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was acquired at an average cost of $103.23 per share, with a total value of $361,305.00. Following the transaction, the director now directly owns 64,009 shares of the company’s stock, valued at $6,607,649.07. The disclosure for this purchase 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.
Want to see what other hedge funds are holding MON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monsanto Co. (NYSE:MON).
Receive News & Ratings for Monsanto Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monsanto Co. and related companies with MarketBeat.com's FREE daily email newsletter.