Pinebridge Investments L.P. Has $404,000 Holdings in Monsanto (MON)
Pinebridge Investments L.P. decreased its holdings in Monsanto (NYSE:MON) by 50.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,459 shares of the basic materials company’s stock after selling 3,571 shares during the quarter. Pinebridge Investments L.P.’s holdings in Monsanto were worth $404,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of MON. First Trust Advisors LP raised its stake in Monsanto by 2.7% in the 3rd quarter. First Trust Advisors LP now owns 22,198 shares of the basic materials company’s stock worth $2,660,000 after purchasing an additional 591 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Monsanto by 1.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 42,996 shares of the basic materials company’s stock worth $5,152,000 after purchasing an additional 595 shares in the last quarter. Advisors Preferred LLC acquired a new stake in Monsanto in the 3rd quarter worth about $435,000. First Merchants Corp acquired a new stake in Monsanto in the 3rd quarter worth about $506,000. Finally, Forsta AP Fonden raised its stake in Monsanto by 3.2% in the 3rd quarter. Forsta AP Fonden now owns 48,800 shares of the basic materials company’s stock worth $5,847,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Several analysts have weighed in on MON shares. Deutsche Bank reiterated a “buy” rating on shares of Monsanto in a research note on Tuesday, January 16th. Zacks Investment Research cut shares of Monsanto from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Royal Bank of Canada reiterated a “hold” rating and issued a $128.00 price objective on shares of Monsanto in a research note on Wednesday, November 15th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $128.00 target price (up from $118.00) on shares of Monsanto in a report on Wednesday, January 17th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Monsanto presently has a consensus rating of “Hold” and a consensus target price of $127.30.
Monsanto (NYSE:MON) last released its earnings results on Thursday, January 4th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Monsanto had a net margin of 16.38% and a return on equity of 40.13%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business earned $0.21 earnings per share. Monsanto’s quarterly revenue was up .3% compared to the same quarter last year. equities research analysts predict that Monsanto will post 5.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, April 5th. Monsanto’s dividend payout ratio is currently 39.85%.
In related news, EVP Steven Mizell sold 8,100 shares of Monsanto stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $119.35, for a total transaction of $966,735.00. Following the sale, the executive vice president now directly owns 56,743 shares of the company’s stock, valued at approximately $6,772,277.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.
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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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