Royal Bank Of Canada reiterated their hold rating on shares of Monsanto Company (NYSE:MON) in a research note released on Wednesday morning. Royal Bank Of Canada currently has a $128.00 target price on the basic materials company’s stock.
Several other brokerages also recently commented on MON. Citigroup Inc. reissued a neutral rating and issued a $125.00 price objective (up from $122.00) on shares of Monsanto in a research note on Friday, April 14th. BidaskClub raised Monsanto from a sell rating to a hold rating in a research note on Thursday, June 29th. BMO Capital Markets reissued a buy rating and issued a $128.00 price objective on shares of Monsanto in a research note on Wednesday, April 5th. Vetr raised Monsanto from a hold rating to a buy rating and set a $122.35 price objective for the company in a research note on Tuesday, June 27th. Finally, Barclays PLC increased 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. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $123.15.
Monsanto (MON) traded down 0.02% on Wednesday, reaching $117.84. The company’s stock had a trading volume of 848,872 shares. The firm’s 50-day moving average price is $117.53 and its 200 day moving average price is $114.70. The company has a market cap of $51.77 billion, a P/E ratio of 25.45 and a beta of 1.07. Monsanto has a 52-week low of $97.35 and a 52-week high of $118.97.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Monsanto had a return on equity of 45.26% and a net margin of 14.11%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the business earned $2.17 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that Monsanto will post $4.89 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 7th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, July 5th. Monsanto’s dividend payout ratio (DPR) is 46.75%.
In other Monsanto news, EVP Robert T. Fraley sold 52,410 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $117.95, for a total transaction of $6,181,759.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven Mizell sold 11,300 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $118.57, for a total value of $1,339,841.00. Following the transaction, the executive vice president now directly owns 55,011 shares of the company’s stock, valued at $6,522,654.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,470 shares of company stock valued at $8,791,281. 0.79% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in MON. Bank of Montreal Can raised its position in shares of Monsanto by 17.2% in the first quarter. Bank of Montreal Can now owns 664,718 shares of the basic materials company’s stock valued at $75,246,000 after buying an additional 97,355 shares during the period. E&G Advisors LP purchased a new position in shares of Monsanto during the first quarter valued at $306,000. National Pension Service raised its position in shares of Monsanto by 4.7% in the first quarter. National Pension Service now owns 322,846 shares of the basic materials company’s stock valued at $36,595,000 after buying an additional 14,620 shares during the period. Quadrant Capital Group LLC raised its position in shares of Monsanto by 3.3% in the first quarter. Quadrant Capital Group LLC now owns 1,918 shares of the basic materials company’s stock valued at $207,000 after buying an additional 62 shares during the period. Finally, Augustine Asset Management Inc. raised its position in shares of Monsanto by 2.4% in the first quarter. Augustine Asset Management Inc. now owns 20,094 shares of the basic materials company’s stock valued at $2,274,000 after buying an additional 462 shares during the period. 74.88% of the stock is 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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