Monsanto Co. (MON) Receives “Outperform” Rating from BMO Capital Markets
BMO Capital Markets reaffirmed their outperform rating on shares of Monsanto Co. (NYSE:MON) in a research note released on Saturday morning. The firm currently has a $128.00 target price on the stock.
A number of other brokerages have also recently weighed in on MON. S&P Equity Research reissued a positive rating on shares of Monsanto in a research report on Thursday, September 15th. Vetr raised shares of Monsanto from a buy rating to a strong-buy rating and set a $116.55 price target for the company in a research report on Monday, June 27th. Piper Jaffray Cos. restated an overweight rating and issued a $118.00 price objective on shares of Monsanto in a research note on Sunday, August 21st. Citigroup Inc. restated a neutral rating and issued a $112.00 price objective on shares of Monsanto in a research note on Monday, July 18th. Finally, Goldman Sachs Group Inc. set a $92.00 price objective on shares of Monsanto and gave the company a sell rating in a research note on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Monsanto presently has a consensus rating of Buy and a consensus target price of $114.67.
Monsanto (NYSE:MON) opened at 103.36 on Friday. The firm has a market cap of $45.23 billion, a P/E ratio of 45.49 and a beta of 1.19. Monsanto has a 52-week low of $83.73 and a 52-week high of $114.26. The company’s 50 day moving average is $104.86 and its 200 day moving average is $101.43.
Monsanto (NYSE:MON) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. The firm earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the company earned ($0.19) earnings per share. Monsanto’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Monsanto will post $4.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, October 5th. Monsanto’s dividend payout ratio is currently 71.05%.
In other Monsanto news, COO Brett D. Begemann sold 27,980 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 102,480 shares of the company’s stock, valued at $10,618,977.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael K. Stern sold 12,797 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 21,583 shares in the company, valued at approximately $2,196,501.91. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Monsanto by 41.3% in the second quarter. FMR LLC now owns 16,593,757 shares of the company’s stock worth $1,715,960,000 after buying an additional 4,851,499 shares in the last quarter. Third Point LLC bought a new position in Monsanto during the second quarter worth $206,820,000. Carmignac Gestion bought a new position in Monsanto during the second quarter worth $197,555,000. TIAA CREF Investment Management LLC increased its position in Monsanto by 50.4% in the second quarter. TIAA CREF Investment Management LLC now owns 4,658,464 shares of the company’s stock worth $481,732,000 after buying an additional 1,560,646 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Monsanto by 205.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,705,121 shares of the company’s stock worth $176,327,000 after buying an additional 1,147,200 shares in the last quarter. 79.02% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Monsanto Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monsanto Co. and related companies with MarketBeat.com's FREE daily email newsletter.