Penobscot Investment Management Company Inc. held its position in Monsanto Co. (NYSE:MON) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,690 shares of the company’s stock at the end of the second quarter. Penobscot Investment Management Company Inc.’s holdings in Monsanto were worth $382,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service boosted its position in Monsanto by 4.2% in the first quarter. National Pension Service now owns 258,000 shares of the company’s stock valued at $22,637,000 after buying an additional 10,467 shares in the last quarter. Diker Management LLC bought a new position in Monsanto during the first quarter valued at $1,492,000. AMP Capital Investors Ltd boosted its position in Monsanto by 3.7% in the first quarter. AMP Capital Investors Ltd now owns 152,127 shares of the company’s stock valued at $13,858,000 after buying an additional 5,373 shares in the last quarter. Mariner Wealth Advisors LLC boosted its position in Monsanto by 20.3% in the first quarter. Mariner Wealth Advisors LLC now owns 2,666 shares of the company’s stock valued at $234,000 after buying an additional 449 shares in the last quarter. Finally, Simmons Bank bought a new position in Monsanto during the first quarter valued at $638,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
Monsanto Co. (NYSE:MON) traded down 0.18% during midday trading on Wednesday, reaching $102.49. 1,443,951 shares of the company’s stock traded hands. 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 $44.86 billion, a P/E ratio of 34.30 and a beta of 1.19. The company’s 50-day moving average price is $104.11 and its 200-day moving average price is $102.15.
Monsanto (NYSE:MON) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.09. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. The company earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the company earned ($0.19) EPS. The firm’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that Monsanto Co. will post $4.89 EPS for the current fiscal year.
The firm also recently disclosed 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 of this dividend is Wednesday, October 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.11%. Monsanto’s dividend payout ratio (DPR) is 71.05%.
Several brokerages have recently commented on MON. Goldman Sachs Group Inc. raised shares of Monsanto from a “sell” rating to a “neutral” rating and set a $104.00 target price on the stock in a report on Tuesday, September 27th. Jefferies Group reaffirmed a “buy” rating on shares of Monsanto in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $128.00 target price on shares of Monsanto and gave the stock a “buy” rating in a report on Thursday, September 15th. Argus reaffirmed a “buy” rating and set a $128.00 target price on shares of Monsanto in a report on Sunday, October 9th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $112.00 target price (up from $94.00) on shares of Monsanto in a report on Friday, July 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $114.65.
In other Monsanto news, EVP Robert T. Fraley sold 80,631 shares of the stock in a transaction on Friday, October 14th. The shares were sold at an average price of $102.04, for a total transaction of $8,227,587.24. Following the completion of the sale, the executive vice president now owns 38,711 shares of the company’s stock, valued at approximately $3,950,070.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Mizell sold 310 shares of the stock in a transaction on Monday, October 10th. The shares were sold at an average price of $103.09, for a total transaction of $31,957.90. 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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