Cullinan Associates Inc. Lowers Stake in Monsanto Company (NYSE:MON)
Cullinan Associates Inc. lowered its stake in Monsanto Company (NYSE:MON) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 75,140 shares of the basic materials company’s stock after selling 930 shares during the period. Cullinan Associates Inc.’s holdings in Monsanto were worth $8,894,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Washington Trust Bank raised its stake in Monsanto by 579.5% in the first quarter. Washington Trust Bank now owns 3,805 shares of the basic materials company’s stock valued at $431,000 after buying an additional 3,245 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Monsanto during the first quarter valued at approximately $824,000. Pinnacle Bank purchased a new stake in Monsanto during the first quarter valued at approximately $274,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Monsanto by 10.7% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,956 shares of the basic materials company’s stock valued at $787,000 after buying an additional 675 shares during the period. Finally, Prospera Financial Services Inc raised its stake in Monsanto by 90.8% in the first quarter. Prospera Financial Services Inc now owns 3,754 shares of the basic materials company’s stock valued at $430,000 after buying an additional 1,786 shares during the period. Institutional investors own 75.31% of the company’s stock.
Shares of Monsanto Company (NYSE MON) traded down 0.289% on Wednesday, reaching $116.921. The company had a trading volume of 736,615 shares. The firm has a 50-day moving average price of $117.53 and a 200 day moving average price of $114.77. Monsanto Company has a 1-year low of $97.35 and a 1-year high of $118.97. The firm has a market capitalization of $51.37 billion, a price-to-earnings ratio of 25.253 and a beta of 1.07.
Monsanto (NYSE:MON) last announced its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.19. Monsanto had a net margin of 14.11% and a return on equity of 45.26%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the company earned $2.17 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that Monsanto Company will post $4.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 7th were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 5th. This represents a $2.16 annualized dividend and a dividend yield of 1.84%. Monsanto’s dividend payout ratio is presently 46.75%.
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Several research firms have commented on MON. BidaskClub upgraded Monsanto from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Barclays PLC boosted their price objective on Monsanto from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $128.00 price objective (up from $120.00) on shares of Monsanto in a research note on Thursday, June 29th. Zacks Investment Research lowered Monsanto from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $126.00 price objective (up from $125.00) on shares of Monsanto in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $123.15.
In other news, SVP Janet M. Holloway sold 3,337 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $118.00, for a total transaction of $393,766.00. Following the completion of the sale, the senior vice president now directly owns 44,405 shares of the company’s stock, valued at approximately $5,239,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Janet M. Holloway sold 7,423 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $118.00, for a total transaction of $875,914.00. Following the sale, the senior vice president now directly owns 33,645 shares of the company’s stock, valued at $3,970,110. The disclosure for this sale can be found here. Insiders have sold a total of 74,470 shares of company stock valued at $8,791,281 over the last three months. Corporate insiders own 0.79% 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 digital agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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