Smith Salley & Associates Has $621,000 Stake in Monsanto Co. (MON)
Smith Salley & Associates reduced its position in shares of Monsanto Co. (NYSE:MON) by 33.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,003 shares of the company’s stock after selling 2,951 shares during the period. Smith Salley & Associates’ holdings in Monsanto were worth $621,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MON. State Street Corp increased its position in shares of Monsanto by 0.9% in the first quarter. State Street Corp now owns 18,623,044 shares of the company’s stock worth $1,634,002,000 after buying an additional 173,201 shares during the period. Geode Capital Management LLC increased its position in shares of Monsanto by 5.2% in the first quarter. Geode Capital Management LLC now owns 3,718,453 shares of the company’s stock worth $325,622,000 after buying an additional 182,728 shares during the period. Legal & General Group Plc increased its position in shares of Monsanto by 2.5% in the first quarter. Legal & General Group Plc now owns 1,944,838 shares of the company’s stock worth $170,663,000 after buying an additional 46,878 shares during the period. Carmignac Gestion purchased a new position in shares of Monsanto during the second quarter worth approximately $197,555,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Monsanto by 0.5% in the first quarter. UBS Asset Management Americas Inc. now owns 1,731,414 shares of the company’s stock worth $151,914,000 after buying an additional 8,453 shares during the period. 78.94% of the stock is owned by institutional investors.
Monsanto Co. (NYSE:MON) traded up 0.426% during midday trading on Tuesday, hitting $102.605. 956,671 shares of the stock were exchanged. The company’s 50 day moving average is $104.25 and its 200-day moving average is $102.05. Monsanto Co. has a 1-year low of $83.73 and a 1-year high of $114.26. The stock has a market cap of $44.91 billion, a PE ratio of 34.339 and a beta of 1.19.
Monsanto (NYSE:MON) last announced its 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. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.38 billion. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. Monsanto’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted ($0.19) earnings per share. On average, analysts expect that Monsanto Co. will post $4.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, October 5th. Monsanto’s dividend payout ratio is currently 71.05%.
A number of research analysts have recently commented on MON shares. 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 target price for the company in a report on Monday, June 27th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $118.00 target price on shares of Monsanto in a report on Sunday, August 21st. Citigroup Inc. reaffirmed a “neutral” rating and set a $112.00 target price on shares of Monsanto in a report on Monday, July 18th. Finally, 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Monsanto has a consensus rating of “Buy” and an average target price of $114.65.
In other Monsanto news, EVP Robert T. Fraley sold 80,631 shares of Monsanto stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 38,711 shares of the company’s stock, valued at $3,950,070.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven Mizell sold 310 shares of Monsanto stock in a transaction that occurred on Monday, October 10th. The stock was 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 corporate 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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