Dividend Assets Capital LLC reduced its position in shares of Monsanto Co. (NYSE:MON) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 542,934 shares of the company’s stock after selling 86,500 shares during the period. Dividend Assets Capital LLC’s holdings in Monsanto were worth $56,145,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howard Hughes Medical Institute purchased a new position in shares of Monsanto during the first quarter worth about $110,000. Carnick & Kubik LLC purchased a new position in shares of Monsanto during the first quarter worth about $130,000. Bartlett & Co. LLC boosted its position in shares of Monsanto by 10.6% in the second quarter. Bartlett & Co. LLC now owns 1,402 shares of the company’s stock worth $145,000 after buying an additional 134 shares during the period. Palladium Partners LLC purchased a new position in shares of Monsanto during the second quarter worth about $205,000. Finally, First Quadrant L P CA boosted its position in shares of Monsanto by 42.9% in the second quarter. First Quadrant L P CA now owns 2,000 shares of the company’s stock worth $207,000 after buying an additional 600 shares during the period. 79.06% of the stock is currently owned by institutional investors and hedge funds.
Monsanto Co. (NYSE:MON) traded up 0.30% during midday trading on Wednesday, reaching $102.56. 3,103,305 shares of the company’s stock traded hands. The stock has a market cap of $44.88 billion, a P/E ratio of 45.14 and a beta of 1.24. Monsanto Co. has a 52-week low of $83.73 and a 52-week high of $114.26. The company’s 50-day moving average price is $105.47 and its 200-day moving average price is $100.91.
Monsanto (NYSE:MON) last posted its earnings results on Wednesday, June 29th. The company reported $2.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by $0.23. Monsanto had a return on equity of 37.98% and a net margin of 7.76%. The company earned $4.19 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the business posted $2.39 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts predict that Monsanto Co. will post $4.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a $0.54 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.16 annualized dividend and a dividend yield of 2.11%. Monsanto’s dividend payout ratio is 89.26%.
A number of brokerages recently issued reports on MON. Goldman Sachs Group Inc. raised shares of Monsanto from a “sell” rating to a “neutral” rating and set a $104.00 price objective on the stock in a research note on Tuesday. Jefferies Group reissued a “buy” rating on shares of Monsanto in a research note on Wednesday, June 29th. Piper Jaffray Cos. set a $128.00 price objective on shares of Monsanto and gave the company a “buy” rating in a research note on Thursday, September 15th. Citigroup Inc. reissued a “neutral” rating and issued a $112.00 price objective (up from $94.00) on shares of Monsanto in a research note on Friday, July 1st. Finally, Zacks Investment Research raised shares of Monsanto from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $114.31.
In other news, CEO Michael K. Stern sold 12,797 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $101.77, for a total value of $1,302,350.69. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brett D. Begemann sold 27,980 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was 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 directly owns 102,480 shares of the company’s stock, valued at $10,618,977.60. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by 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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