Monsanto Co. (MON) Trading 3.6% Higher
Shares of Monsanto Co. (NYSE:MON) traded up 3.6% during mid-day trading on Tuesday . The company traded as high as $109.00 and last traded at $108.28, with a volume of 5,808,996 shares trading hands. The stock had previously closed at $104.50.
A number of analysts recently issued reports on the company. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $118.00 price target on shares of Monsanto in a report on Sunday. Citigroup Inc. boosted their price target on Monsanto from $112.00 to $116.00 and gave the company a “neutral” rating in a report on Friday, August 19th. Vetr upgraded Monsanto from a “buy” rating to a “strong-buy” rating and set a $122.43 price target for the company in a report on Tuesday, August 9th. Monness Crespi & Hardt upgraded Monsanto from a “neutral” rating to a “buy” rating and boosted their price target for the company from $106.93 to $130.00 in a report on Monday, August 8th. Finally, Sanford C. Bernstein set a $90.00 price target on Monsanto and gave the company a “sell” rating in a report on Wednesday, July 13th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $109.07.
The stock has a 50 day moving average of $105.00 and a 200-day moving average of $98.05. The stock has a market cap of $46.82 billion and a price-to-earnings ratio of 47.10.
Monsanto (NYSE:MON) last released its quarterly earnings data on Wednesday, June 29th. The company reported $2.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by $0.23. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the business posted $2.39 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts predict that Monsanto Co. will post $4.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, October 5th. This represents a $2.16 annualized dividend and a dividend yield of 2.02%.
In other news, COO Brett D. Begemann sold 27,980 shares of Monsanto stock in a transaction on Thursday, July 14th. The shares were 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 approximately $10,618,977.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael K. Stern sold 12,797 shares of Monsanto stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $101.77, for a total transaction of $1,302,350.69. Following the sale, the chief executive officer now directly owns 21,583 shares of the company’s stock, valued at $2,196,501.91. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Monsanto stock. US Bancorp DE boosted its stake in Monsanto Co. (NYSE:MON) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344,555 shares of the company’s stock after buying an additional 1,297 shares during the period. US Bancorp DE owned about 0.08% of Monsanto worth $33,946,000 as of its most recent filing with the SEC.
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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