Monsanto Company (NYSE:MON) had its price objective lifted by Wells Fargo & Company from $107.50 to $118.00 in a research report sent to investors on Tuesday morning. Wells Fargo & Company currently has a market perform rating on the basic materials company’s stock.
Several other equities research analysts also recently weighed in on the stock. Barclays PLC reaffirmed an equal weight rating and set a $124.00 target price (up from $120.00) on shares of Monsanto in a research note on Thursday, October 5th. BMO Capital Markets reaffirmed a buy rating and set a $128.00 target price on shares of Monsanto in a research note on Thursday, October 5th. Macquarie downgraded shares of Monsanto from an outperform rating to a neutral rating in a research note on Wednesday, October 4th. Jefferies Group LLC reaffirmed a hold rating and set a $128.00 target price on shares of Monsanto in a research note on Friday, September 15th. Finally, Zacks Investment Research raised shares of Monsanto from a hold rating to a buy rating and set a $132.00 target price on the stock in a research note on Thursday, September 14th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $124.61.
Monsanto (NYSE:MON) last announced its earnings results on Wednesday, October 4th. The basic materials company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.61. Monsanto had a net margin of 15.44% and a return on equity of 42.40%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.16 annualized dividend and a dividend yield of 1.80%. Monsanto’s dividend payout ratio is presently 42.27%.
In related news, COO Brett D. Begemann sold 22,640 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $120.03, for a total value of $2,717,479.20. Following the sale, the chief operating officer now directly owns 85,439 shares of the company’s stock, valued at $10,255,243.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Mizell sold 11,526 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $119.70, for a total transaction of $1,379,662.20. The disclosure for this sale can be found here. Insiders sold 37,026 shares of company stock worth $4,440,341 over the last three months. Corporate insiders own 0.79% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Yorkville Capital Management LLC lifted its position in Monsanto by 2.7% during the second quarter. Yorkville Capital Management LLC now owns 18,800 shares of the basic materials company’s stock valued at $2,225,000 after buying an additional 500 shares in the last quarter. Paulson & CO. Inc. lifted its position in Monsanto by 348.5% during the second quarter. Paulson & CO. Inc. now owns 159,200 shares of the basic materials company’s stock valued at $18,843,000 after buying an additional 123,700 shares in the last quarter. Intl Fcstone Inc. acquired a new position in Monsanto during the second quarter valued at approximately $794,000. Paradigm Financial Advisors LLC lifted its position in Monsanto by 44.7% during the second quarter. Paradigm Financial Advisors LLC now owns 17,316 shares of the basic materials company’s stock valued at $2,050,000 after buying an additional 5,351 shares in the last quarter. Finally, Ashburton Jersey Ltd lifted its position in Monsanto by 20.4% during the second quarter. Ashburton Jersey Ltd now owns 21,642 shares of the basic materials company’s stock valued at $2,562,000 after buying an additional 3,660 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.
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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