Monsanto Co. (MON) Given New $128.00 Price Target at Monness Crespi & Hardt
Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein raised shares of Monsanto from an underperform rating to a market perform rating and increased their price target for the stock from $82.81 to $105.00 in a research report on Monday, September 26th. Goldman Sachs Group Inc. set a $92.00 target price on shares of Monsanto and gave the stock a sell rating in a report on Monday, June 27th. Jefferies Group reissued a buy rating on shares of Monsanto in a report on Tuesday, September 6th. Citigroup Inc. reissued a neutral rating and issued a $112.00 target price (up previously from $94.00) on shares of Monsanto in a report on Friday, July 1st. Finally, Piper Jaffray Cos. reiterated an overweight rating and set a $127.00 price objective (up previously from $95.00) on shares of Monsanto in a research note on Monday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $114.21.
Shares of Monsanto (NYSE:MON) traded up 0.05% during midday trading on Monday, hitting $102.52. The stock had a trading volume of 1,047,253 shares. Monsanto has a one year low of $83.73 and a one year high of $114.26. The firm has a 50 day moving average of $105.05 and a 200-day moving average of $101.24. The company has a market cap of $44.86 billion, a P/E ratio of 45.12 and a beta of 1.19.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.16 annualized dividend and a yield of 2.11%. Monsanto’s dividend payout ratio (DPR) is presently 89.26%.
In related 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 value of $2,899,287.60. Following the transaction, the chief operating officer now owns 102,480 shares in the company, valued at approximately $10,618,977.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 21,583 shares in the company, valued at approximately $2,196,501.91. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mycio Wealth Partners LLC increased its position in 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. Moody National Bank Trust Division increased its position in Monsanto by 0.3% in the second quarter. Moody National Bank Trust Division now owns 4,883 shares of the company’s stock valued at $505,000 after buying an additional 15 shares during the last quarter. Quadrant Capital Group LLC increased its position in Monsanto by 0.9% in the second quarter. Quadrant Capital Group LLC now owns 1,858 shares of the company’s stock valued at $184,000 after buying an additional 16 shares during the last quarter. Advisor Partners LLC increased its position in Monsanto by 0.4% in the second quarter. Advisor Partners LLC now owns 6,238 shares of the company’s stock valued at $645,000 after buying an additional 23 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in Monsanto by 0.6% in the second quarter. Trust Co. of Vermont now owns 4,932 shares of the company’s stock valued at $510,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.02% of the company’s stock.
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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