Traders Buy Monsanto Co. (MON) on Weakness
Traders bought shares of Monsanto Co. (NYSE:MON) on weakness during trading on Thursday. $47.89 million flowed into the stock on the tick-up and $32.77 million flowed out of the stock on the tick-down, for a money net flow of $15.12 million into the stock. Of all stocks tracked, Monsanto had the 7th highest net in-flow for the day. Monsanto traded down ($0.02) for the day and closed at $105.92
A number of brokerages recently weighed in on MON. Sanford C. Bernstein reissued a “sell” rating and issued a $80.00 price target on shares of Monsanto in a research note on Sunday, May 22nd. Piper Jaffray Cos. restated an “overweight” rating and set a $127.00 price objective (up from $95.00) on shares of Monsanto in a research report on Monday, June 13th. Vetr upgraded Monsanto from a “buy” rating to a “strong-buy” rating and set a $122.43 price objective for the company in a research report on Tuesday. Zacks Investment Research upgraded Monsanto from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Argus restated a “buy” rating and set a $128.00 price objective (up from $111.00) on shares of Monsanto in a research report on Wednesday, June 15th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $109.69.
The stock’s 50 day moving average price is $104.46 and its 200-day moving average price is $97.01. The stock has a market cap of $46.35 billion and a price-to-earnings ratio of 46.62.
Monsanto (NYSE:MON) last issued its quarterly earnings results on Wednesday, June 29th. The company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.40 by $0.23. The company earned $4.19 billion during the quarter, compared to analysts’ expectations of $4.49 billion. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.39 earnings per share. On average, equities analysts predict that Monsanto Co. will post $4.46 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 8th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $2.16 annualized dividend and a yield of 2.04%.
In other news, CEO Michael K. Stern sold 12,797 shares of the firm’s stock in a transaction that occurred on 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 directly owns 21,583 shares of the company’s stock, valued at $2,196,501.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brett D. Begemann sold 27,980 shares of the firm’s stock in a transaction that occurred on 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 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.
Several hedge funds have added to or reduced their stakes in MON. BlackRock Advisors LLC boosted its stake in Monsanto by 49.9% in the fourth quarter. BlackRock Advisors LLC now owns 1,138,888 shares of the company’s stock worth $112,203,000 after buying an additional 379,225 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Monsanto by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 982,183 shares of the company’s stock worth $96,767,000 after buying an additional 48,863 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in Monsanto by 65.4% in the fourth quarter. Morningstar Investment Services LLC now owns 42,914 shares of the company’s stock worth $4,228,000 after buying an additional 16,971 shares during the last quarter. KBC Group NV boosted its stake in Monsanto by 13.8% in the fourth quarter. KBC Group NV now owns 129,250 shares of the company’s stock worth $12,733,000 after buying an additional 15,681 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Monsanto by 42.9% in the fourth quarter. Advisors Asset Management Inc. now owns 37,014 shares of the company’s stock worth $3,647,000 after buying an additional 11,109 shares during the last quarter.
Monsanto Company (Monsanto) is a provider of agricultural products for farmers. The Company’s seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity, reduce the costs of farming, and produce better foods for consumers and better feed for animals. It manages business in two segments: Seeds and Genomics, and Agricultural Productivity.
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