Goldman Sachs Group Inc. upgraded shares of Monsanto Co. (NYSE:MON) from a sell rating to a neutral rating in a report released on Tuesday morning. The firm currently has $104.00 target price on the stock.
“The proposed deal now faces regulatory review, which MON believes should be benign due to limited product overlap with Bayer AG (ADR) (OTC: BAYRY). Nonetheless, investors appear to taking a wait and see approach as evidenced by a significant spread between today’s closing price ($102) and the deal price ($128),,” the firm’s analyst wrote.
Several other research analysts have also weighed in on MON. Vetr lowered Monsanto from a strong-buy rating to a buy rating and set a $117.33 price target on the stock. in a research report on Monday, May 30th. Deutsche Bank AG reaffirmed a buy rating and set a $100.00 price target on shares of Monsanto in a research report on Wednesday, June 1st. Zacks Investment Research raised Monsanto from a sell rating to a hold rating in a research report on Wednesday, June 8th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $127.00 price target (up previously from $95.00) on shares of Monsanto in a research report on Monday, June 13th. Finally, Argus reiterated a buy rating and set a $128.00 target price (up from $111.00) on shares of Monsanto in a research note on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $114.31.
Monsanto (NYSE:MON) opened at 101.79 on Tuesday. Monsanto has a 1-year low of $83.73 and a 1-year high of $114.26. The firm’s 50-day moving average price is $105.24 and its 200 day moving average price is $100.93. The firm has a market capitalization of $44.54 billion, a price-to-earnings ratio of 44.80 and a beta of 1.24.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $2.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by $0.23. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.49 billion. Monsanto had a return on equity of 37.98% and a net margin of 7.76%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.39 EPS. On average, analysts predict that Monsanto will post $4.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.16 annualized dividend and a dividend yield of 2.12%. Monsanto’s payout ratio is 89.26%.
In other 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 value of $1,302,350.69. Following the completion of the sale, the chief executive officer now owns 21,583 shares of the company’s stock, valued at $2,196,501.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brett D. Begemann sold 27,980 shares of the company’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 owns 102,480 shares in the company, valued at approximately $10,618,977.60. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. WFG Advisors LP raised 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 during the last quarter. Signaturefd LLC raised its stake in shares of Monsanto by 62.1% in the second quarter. Signaturefd LLC now owns 1,083 shares of the company’s stock valued at $112,000 after buying an additional 415 shares during the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Monsanto by 1.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,094 shares of the company’s stock valued at $113,000 after buying an additional 12 shares during the last quarter. Pinkerton Retirement Specialists LLC raised its stake in shares of Monsanto by 1,179.1% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,100 shares of the company’s stock valued at $114,000 after buying an additional 1,014 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new stake in shares of Monsanto during the first quarter valued at approximately $110,000. Institutional investors own 79.06% 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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