Monsanto Company Announces Quarterly Dividend of $0.54 (MON)
Monsanto Company (NYSE:MON) announced a quarterly dividend on Thursday, August 10th, RTT News reports. Stockholders of record on Friday, October 6th will be paid a dividend of 0.54 per share by the basic materials company on Friday, October 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.84%.
Monsanto has increased its dividend by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Monsanto has a payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Monsanto to earn $5.42 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 39.9%.
Shares of Monsanto (NYSE MON) traded down 0.11% during mid-day trading on Thursday, hitting $117.21. The stock had a trading volume of 874,597 shares. The stock’s 50-day moving average is $117.49 and its 200-day moving average is $115.01. Monsanto has a 1-year low of $97.35 and a 1-year high of $118.97. The firm has a market capitalization of $51.49 billion, a PE ratio of 25.32 and a beta of 1.07.
Monsanto (NYSE:MON) last posted its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.19. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. Monsanto had a return on equity of 45.26% and a net margin of 14.11%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 earnings per share. Equities analysts expect that Monsanto will post $4.89 earnings per share for the current year.
In related news, SVP Janet M. Holloway sold 3,337 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was 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 owns 44,405 shares in the company, valued at $5,239,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Janet M. Holloway sold 7,423 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $118.00, for a total value of $875,914.00. Following the sale, the senior vice president now owns 33,645 shares of the company’s stock, valued at approximately $3,970,110. The disclosure for this sale can be found here. Insiders have sold 74,470 shares of company stock valued at $8,791,281 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.
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Several brokerages have issued reports on MON. Royal Bank Of Canada reissued a “sector perform” rating and issued a $128.00 price target (up from $120.00) on shares of Monsanto in a research note on Thursday, June 29th. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Friday, June 16th. Vetr raised Monsanto from a “hold” rating to a “buy” rating and set a $122.35 price target on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC lowered Monsanto from a “buy” rating to a “hold” rating and set a $128.00 price target on the stock. in a research note on Wednesday, July 12th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $125.00 price target (up from $122.00) on shares of Monsanto in a research note on Friday, April 14th. Two 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 an average target price of $123.15.
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 digital agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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