BB&T Securities LLC trimmed its holdings in shares of Monsanto Company (NYSE:MON) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,188 shares of the basic materials company’s stock after selling 1,137 shares during the quarter. BB&T Securities LLC’s holdings in Monsanto were worth $1,580,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. OZ Management LP bought a new position in Monsanto during the second quarter valued at $242,786,000. BlackRock Inc. grew its holdings in Monsanto by 6.5% during the second quarter. BlackRock Inc. now owns 27,898,255 shares of the basic materials company’s stock valued at $3,302,038,000 after purchasing an additional 1,705,439 shares during the period. Janus Henderson Group PLC grew its holdings in Monsanto by 2,540.4% during the second quarter. Janus Henderson Group PLC now owns 1,491,324 shares of the basic materials company’s stock valued at $176,515,000 after purchasing an additional 1,434,844 shares during the period. PSquared Asset Management AG grew its holdings in Monsanto by 239.0% during the second quarter. PSquared Asset Management AG now owns 1,274,320 shares of the basic materials company’s stock valued at $150,829,000 after purchasing an additional 898,395 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Monsanto by 2.6% during the second quarter. Vanguard Group Inc. now owns 30,725,725 shares of the basic materials company’s stock valued at $3,636,697,000 after purchasing an additional 784,418 shares during the period. 75.70% of the stock is owned by institutional investors.
Several equities analysts have weighed in on MON shares. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Monday, September 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $128.00 price target on shares of Monsanto in a report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $128.00 price target on shares of Monsanto in a report on Wednesday, November 15th. Jefferies Group reaffirmed a “hold” rating and issued a $128.00 price target on shares of Monsanto in a report on Friday, September 15th. Finally, BidaskClub raised Monsanto from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $124.61.
Monsanto (NYSE:MON) last released its quarterly earnings results on Wednesday, October 4th. The basic materials company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.61. Monsanto had a return on equity of 42.40% and a net margin of 15.44%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. analysts expect that Monsanto Company will post 5.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, January 4th. This represents a $2.16 dividend on an annualized basis and a yield of 1.83%. Monsanto’s payout ratio is 42.27%.
In other Monsanto news, EVP Steven Mizell sold 11,526 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $119.70, for a total transaction of $1,379,662.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Duraiswami Narain sold 2,860 shares of Monsanto stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $120.00, for a total value of $343,200.00. The disclosure for this sale can be found here. Insiders have sold 49,236 shares of company stock worth $5,931,934 in the last 90 days. Company insiders own 0.79% 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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