Greenleaf Trust increased its stake in shares of Monsanto Co. (NYSE:MON) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 69,883 shares of the company’s stock after buying an additional 1,483 shares during the period. Greenleaf Trust’s holdings in Monsanto were worth $7,227,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Howard Hughes Medical Institute bought a new stake in shares of Monsanto during the first quarter valued at about $110,000. Carnick & Kubik LLC acquired a new position in Monsanto during the first quarter valued at $130,000. Bartlett & Co. LLC raised its position in Monsanto by 10.6% in the second quarter. Bartlett & Co. LLC now owns 1,402 shares of the company’s stock valued at $145,000 after buying an additional 134 shares during the last quarter. Quadrant Capital Group LLC raised its position in Monsanto by 0.9% in the second quarter. Quadrant Capital Group LLC now owns 1,858 shares of the company’s stock valued at $184,000 after buying an additional 16 shares during the last quarter. Finally, Palladium Partners LLC acquired a new position in Monsanto during the second quarter valued at $205,000. 79.02% of the stock is owned by institutional investors.
Monsanto Co. (NYSE:MON) traded up 1.28% on Wednesday, reaching $102.91. 3,093,963 shares of the company’s stock traded hands. Monsanto Co. has a 52-week low of $83.73 and a 52-week high of $114.26. The stock’s 50 day moving average is $104.97 and its 200 day moving average is $101.31. The firm has a market cap of $45.03 billion, a price-to-earnings ratio of 45.29 and a beta of 1.19.
Monsanto (NYSE:MON) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.09. The firm earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Monsanto had a net margin of 7.76% and a return on equity of 37.98%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. On average, equities research analysts predict that Monsanto Co. will post $4.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders 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 payout ratio is presently 89.26%.
Several equities analysts recently weighed in on the stock. Monness Crespi & Hardt reduced their target price on shares of Monsanto from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Monday. Goldman Sachs Group Inc. upgraded shares of Monsanto from a “sell” rating to a “neutral” rating and set a $104.00 target price on the stock in a report on Tuesday, September 27th. Sanford C. Bernstein upgraded shares of Monsanto from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $82.81 to $105.00 in a report on Monday, September 26th. JPMorgan Chase & Co. upgraded shares of Monsanto from a “neutral” rating to an “overweight” rating and set a $128.00 target price on the stock in a report on Wednesday, September 21st. Finally, Piper Jaffray Cos. set a $128.00 target price on shares of Monsanto and gave the company a “buy” rating in a report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Monsanto currently has an average rating of “Buy” and a consensus target price of $114.21.
In other news, COO Brett D. Begemann sold 27,980 shares of Monsanto stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $103.62, for a total transaction of $2,899,287.60. Following the completion of the sale, the chief operating officer now owns 102,480 shares in the company, valued at approximately $10,618,977.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael K. Stern sold 12,797 shares of Monsanto stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $101.77, for a total transaction of $1,302,350.69. Following the sale, the chief executive officer now owns 21,583 shares of the company’s stock, valued at approximately $2,196,501.91. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company 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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