Horan Capital Management cut its position in shares of Monsanto Company (NYSE:MON) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,175 shares of the basic materials company’s stock after selling 5,405 shares during the period. Monsanto accounts for 1.6% of Horan Capital Management’s portfolio, making the stock its 27th largest position. Horan Capital Management’s holdings in Monsanto were worth $7,359,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in MON. First PREMIER Bank increased its stake 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 stake 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 stake in shares of Monsanto during the first quarter worth approximately $113,000. Acrospire Investment Management LLC purchased a new stake in shares of Monsanto during the first quarter worth approximately $113,000. Finally, JNBA Financial Advisors increased its stake 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 currently owned by hedge funds and other institutional investors.
Monsanto Company (MON) opened at 116.55 on Friday. The firm has a market cap of $51.20 billion, a P/E ratio of 25.17 and a beta of 1.07. Monsanto Company has a 12 month low of $97.35 and a 12 month high of $118.97. The firm’s 50-day moving average price is $117.47 and its 200-day moving average price is $115.08.
Monsanto (NYSE:MON) last released its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Monsanto had a net margin of 14.11% and a return on equity of 45.26%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the business earned $2.17 EPS. Monsanto’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Monsanto Company will post $4.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, October 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.85%. Monsanto’s dividend payout ratio (DPR) is currently 46.75%.
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MON has been the subject of several analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $128.00 target price (up previously from $120.00) on shares of Monsanto in a research report on Thursday, June 29th. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Friday, June 16th. Vetr raised Monsanto from a “hold” rating to a “buy” rating and set a $122.35 price target for the company in a report on Wednesday, July 12th. Jefferies Group LLC cut Monsanto from a “buy” rating to a “hold” rating and set a $128.00 price target for the company. in a report on Wednesday, July 12th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $125.00 price target (up from $122.00) on shares of Monsanto in a report on Friday, April 14th. Two investment 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 a consensus rating of “Hold” and a consensus price target of $123.15.
In other Monsanto news, EVP Robert T. Fraley sold 52,410 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $117.95, for a total value of $6,181,759.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Mizell sold 11,300 shares of the business’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 completion of the sale, 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. Insiders have sold a total of 74,470 shares of company stock valued at $8,791,281 over the last ninety days. 0.79% of the stock is currently owned by 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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