Conning Inc. reduced its stake in Monsanto Co. (NYSE:MON) by 0.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,758 shares of the company’s stock after selling 20 shares during the period. Conning Inc.’s holdings in Monsanto were worth $2,560,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in Monsanto by 1,769.4% in the first quarter. Canada Pension Plan Investment Board now owns 942,942 shares of the company’s stock valued at $82,734,000 after buying an additional 892,500 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Monsanto by 34.0% in the first quarter. TIAA CREF Investment Management LLC now owns 3,097,818 shares of the company’s stock valued at $271,803,000 after buying an additional 786,058 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in Monsanto during the first quarter valued at $56,462,000. Geode Capital Management LLC boosted its position in Monsanto by 5.2% in the first quarter. Geode Capital Management LLC now owns 3,718,453 shares of the company’s stock valued at $325,622,000 after buying an additional 182,728 shares during the last quarter. Finally, State Street Corp boosted its position in 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 last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.
Monsanto Co. (NYSE:MON) traded down 0.15% during trading on Thursday, reaching $104.20. 4,251,741 shares of the company were exchanged. Monsanto Co. has a 1-year low of $82.81 and a 1-year high of $114.26. The stock has a market capitalization of $45.60 billion, a P/E ratio of 45.86 and a beta of 1.24. The company’s 50-day moving average price is $105.82 and its 200-day moving average price is $100.45.
Monsanto (NYSE:MON) last posted its earnings results on Wednesday, June 29th. The company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by $0.23. Monsanto had a return on equity of 37.98% and a net margin of 7.76%. The business earned $4.19 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm earned $2.39 earnings per share. The business’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities analysts forecast that Monsanto Co. will post $4.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.07%. Monsanto’s dividend payout ratio (DPR) is presently 89.26%.
Several research analysts have recently weighed in on MON shares. Goldman Sachs Group Inc. set a $92.00 price target on shares of Monsanto and gave the stock a “sell” rating in a report on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating on shares of Monsanto in a report on Tuesday, September 6th. Sanford C. Bernstein set a $90.00 price target on shares of Monsanto and gave the stock a “sell” rating in a report on Wednesday, July 13th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $112.00 price target (up previously from $94.00) on shares of Monsanto in a report on Friday, July 1st. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $127.00 price target (up previously from $95.00) on shares of Monsanto in a report on Monday, June 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Monsanto presently has a consensus rating of “Hold” and a consensus price target of $113.02.
In other news, COO Brett D. Begemann sold 27,980 shares of the business’s stock in a transaction dated Thursday, July 14th. The shares were 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 approximately $10,618,977.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael K. Stern sold 12,797 shares of the business’s 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 completion of the sale, the chief executive officer now owns 21,583 shares in the company, valued at $2,196,501.91. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
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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