Moloney Securities Asset Management LLC Cuts Stake in Monsanto Company (NYSE:MON)
Moloney Securities Asset Management LLC cut its position in Monsanto Company (NYSE:MON) by 15.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,426 shares of the basic materials company’s stock after selling 996 shares during the period. Moloney Securities Asset Management LLC’s holdings in Monsanto were worth $642,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MON. First PREMIER Bank increased its position in shares of Monsanto by 4.2% in the first quarter. First PREMIER Bank now owns 901 shares of the basic materials company’s stock worth $102,000 after buying an additional 36 shares in the last quarter. Whitnell & Co. increased its position in shares of Monsanto by 35.4% in the first quarter. Whitnell & Co. now owns 979 shares of the basic materials company’s stock worth $111,000 after buying an additional 256 shares in the last quarter. Hartford Financial Management Inc. purchased a new position in shares of Monsanto during the first quarter worth approximately $113,000. Acrospire Investment Management LLC purchased a new position in shares of Monsanto during the first quarter worth approximately $113,000. Finally, JNBA Financial Advisors increased its position in shares of Monsanto by 3.9% in the first quarter. JNBA Financial Advisors now owns 1,193 shares of the basic materials company’s stock worth $135,000 after buying an additional 45 shares in the last quarter. 75.31% of the stock is owned by institutional investors.
Shares of Monsanto Company (NYSE MON) traded down 0.11% during trading on Friday, reaching $116.81. 615,144 shares of the company traded hands. Monsanto Company has a 1-year low of $97.35 and a 1-year high of $118.97. The stock’s 50 day moving average is $117.48 and its 200 day moving average is $115.03. The company has a market capitalization of $51.32 billion, a price-to-earnings ratio of 25.23 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 for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.19. Monsanto had a return on equity of 45.26% and a net margin of 14.11%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. Monsanto’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Monsanto Company will post $4.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.85%. Monsanto’s dividend payout ratio is presently 46.75%.
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A number of equities analysts have commented on the stock. Citigroup Inc. reiterated a “neutral” rating and issued a $125.00 target price (up from $122.00) on shares of Monsanto in a report on Friday, April 14th. BidaskClub upgraded shares of Monsanto from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Vetr upgraded shares of Monsanto from a “hold” rating to a “buy” rating and set a $122.35 target price for the company in a report on Tuesday, June 27th. Barclays PLC boosted their target price on shares of Monsanto from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, June 29th. Finally, Jefferies Group LLC downgraded shares of Monsanto from a “buy” rating to a “hold” rating and set a $128.00 target price for the company. in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $123.15.
In related news, EVP Steven Mizell sold 11,300 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $118.57, for a total transaction of $1,339,841.00. Following the transaction, the executive vice president now owns 55,011 shares of the company’s stock, valued at $6,522,654.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the senior vice president now directly owns 33,645 shares in the company, valued at approximately $3,970,110. The disclosure for this sale can be found here. Insiders have sold 74,470 shares of company stock worth $8,791,281 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.
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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