Kornitzer Capital Management Inc. KS lowered its stake in shares of Monsanto Co. (NYSE:MON) by 81.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,076 shares of the company’s stock after selling 194,112 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Monsanto were worth $4,454,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MON. JPMorgan Chase & Co. boosted 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 in the last quarter. Credit Agricole S A boosted 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 in the last quarter. State Street Corp boosted 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 in the last quarter. Meeder Asset Management Inc. boosted 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 in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted 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 in the last quarter. 78.94% of the stock is owned by institutional investors and hedge funds.
Monsanto Co. (NYSE:MON) traded up 0.52% during mid-day trading on Tuesday, reaching $102.70. The company’s stock had a trading volume of 1,633,318 shares. The company has a 50 day moving average of $104.25 and a 200-day moving average of $102.04. Monsanto Co. has a 52-week low of $83.73 and a 52-week high of $114.26. The stock has a market cap of $44.95 billion, a PE ratio of 34.37 and a beta of 1.19.
Monsanto (NYSE:MON) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.38 billion. Monsanto had a return on equity of 46.07% and a net margin of 9.89%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. Equities analysts forecast that Monsanto Co. will post $4.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.16 annualized dividend and a yield of 2.11%. Monsanto’s payout ratio is presently 71.05%.
MON has been the subject of several research reports. 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. Vetr raised Monsanto from a “buy” rating to a “strong-buy” rating and set a $116.55 target price for the company in a research note on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating on shares of Monsanto in a research note on Wednesday, June 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $118.00 target price on shares of Monsanto in a report on Thursday, June 30th. Finally, Piper Jaffray Cos. reduced their target price on Monsanto from $127.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $114.65.
In other Monsanto news, Director Charles S. Mcmillan purchased 3,500 shares of the stock in a transaction on Monday, October 10th. The shares were purchased at an average price of $103.23 per share, with a total value of $361,305.00. Following the completion of the transaction, the director now directly owns 64,009 shares in the company, valued at $6,607,649.07. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert T. Fraley sold 80,631 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $102.04, for a total value of $8,227,587.24. Following the transaction, the executive vice president now directly owns 38,711 shares in the company, valued at approximately $3,950,070.44. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
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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