Estabrook Capital Management increased its holdings in shares of Monsanto Company (NYSE:MON) by 2,678.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,006 shares of the basic materials company’s stock after acquiring an additional 16,394 shares during the period. Estabrook Capital Management’s holdings in Monsanto were worth $2,013,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Pinnacle Financial Partners Inc. purchased a new position in Monsanto in the second quarter worth about $114,000. Acrospire Investment Management LLC purchased a new position in Monsanto in the first quarter worth about $113,000. Armbruster Capital Management Inc. raised its holdings in Monsanto by 12.2% in the second quarter. Armbruster Capital Management Inc. now owns 1,147 shares of the basic materials company’s stock worth $136,000 after buying an additional 125 shares during the last quarter. JNBA Financial Advisors raised its holdings in 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 during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in Monsanto by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,288 shares of the basic materials company’s stock worth $145,000 after buying an additional 112 shares during the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.
In other Monsanto news, EVP Robert T. Fraley sold 52,410 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $117.95, for a total transaction of $6,181,759.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Mizell sold 11,300 shares of the firm’s stock in a transaction that occurred 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 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. Company insiders own 0.79% of the company’s stock.
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Shares of Monsanto Company (NYSE:MON) opened at 118.27 on Friday. The firm’s 50-day moving average is $117.25 and its 200-day moving average is $116.44. Monsanto Company has a one year low of $97.35 and a one year high of $118.97. The stock has a market capitalization of $51.96 billion, a PE ratio of 25.54 and a beta of 1.07.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the firm posted $2.17 EPS. Monsanto’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts expect that Monsanto Company will post $4.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, October 5th. Monsanto’s dividend payout ratio is presently 46.75%.
Several research analysts have issued reports on MON shares. Zacks Investment Research cut shares of Monsanto from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $128.00 target price on shares of Monsanto in a report on Friday, September 1st. BidaskClub raised shares of Monsanto from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $128.00 target price (up from $120.00) on shares of Monsanto in a report on Thursday, June 29th. Finally, Jefferies Group LLC cut shares of Monsanto from a “buy” rating to a “hold” rating and set a $128.00 target price for the company. in a report on Wednesday, July 12th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $124.09.
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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