Sanford C. Bernstein upgraded shares of Monsanto Co. (NYSE:MON) from an underperform rating to a market perform rating in a report released on Monday. They currently have $105.00 price objective on the stock, up from their previous price objective of $82.81.
Other equities research analysts also recently issued reports about the company. Piper Jaffray Cos. restated an overweight rating and set a $127.00 price objective (up from $95.00) on shares of Monsanto in a research report on Monday, June 13th. Argus reaffirmed a buy rating and set a $128.00 target price (up previously from $111.00) on shares of Monsanto in a research note on Wednesday, June 15th. Vetr raised Monsanto from a buy rating to a strong-buy rating and set a $122.43 target price on the stock in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. set a $92.00 target price on Monsanto and gave the company a sell rating in a research note on Monday, June 27th. Finally, JPMorgan Chase & Co. raised Monsanto from a neutral rating to an overweight rating and set a $128.00 target price on the stock in a research note on Wednesday, September 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $114.31.
Monsanto (NYSE:MON) opened at 101.79 on Monday. Monsanto has a 52 week low of $83.73 and a 52 week high of $114.26. The stock has a market cap of $44.54 billion, a PE ratio of 44.80 and a beta of 1.24. The firm’s 50-day moving average price is $105.24 and its 200-day moving average price is $100.93.
Monsanto (NYSE:MON) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by $0.23. Monsanto had a net margin of 7.76% and a return on equity of 37.98%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter last year, the company earned $2.39 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts predict that Monsanto will post $4.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, October 5th. Monsanto’s dividend payout ratio is currently 89.26%.
In other Monsanto news, CEO Michael K. Stern sold 12,797 shares of the stock in a transaction dated 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 directly owns 21,583 shares of the company’s stock, valued at approximately $2,196,501.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brett D. Begemann sold 27,980 shares of the stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $103.62, for a total value of $2,899,287.60. Following the sale, the chief operating officer now directly owns 102,480 shares in the company, valued at $10,618,977.60. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
A number of large investors have recently made changes to their positions in MON. WFG Advisors LP increased its stake in shares of Monsanto by 18.6% in the second quarter. WFG Advisors LP now owns 1,009 shares of the company’s stock valued at $104,000 after buying an additional 158 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in Monsanto during the first quarter worth approximately $110,000. Signaturefd LLC boosted its stake in Monsanto by 62.1% in the second quarter. Signaturefd LLC now owns 1,083 shares of the company’s stock worth $112,000 after buying an additional 415 shares during the period. Mycio Wealth Partners LLC boosted its stake in Monsanto by 1.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,094 shares of the company’s stock worth $113,000 after buying an additional 12 shares during the period. Finally, Pinkerton Retirement Specialists LLC boosted its stake in Monsanto by 1,179.1% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,100 shares of the company’s stock worth $114,000 after buying an additional 1,014 shares during the period. 79.06% of the stock is currently owned by institutional investors.
Monsanto Company Profile
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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