Monsanto Co. (MON) Releases Earnings Results, Beats Expectations By $0.09 EPS
Monsanto Co. (NYSE:MON) posted its earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. Monsanto had a return on equity of 37.98% and a net margin of 7.76%. The company earned $2.56 billion during the quarter, compared to the consensus estimate of $2.38 billion.
Shares of Monsanto (NYSE:MON) opened at 101.61 on Wednesday. The stock’s 50 day moving average price is $104.97 and its 200 day moving average price is $101.31. The company has a market cap of $44.46 billion, a P/E ratio of 44.72 and a beta of 1.19. Monsanto has a 12-month low of $83.73 and a 12-month high of $114.26.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.16 annualized dividend and a dividend yield of 2.11%. Monsanto’s dividend payout ratio is 89.26%.
A number of equities research analysts have recently weighed in on MON shares. Credit Agricole SA reissued a “buy” rating on shares of Monsanto in a report on Saturday, July 2nd. Deutsche Bank AG reissued a “buy” rating and set a $118.00 target price on shares of Monsanto in a report on Thursday, June 30th. Jefferies Group reissued a “buy” rating on shares of Monsanto in a report on Wednesday, June 29th. Argus reissued a “buy” rating and set a $128.00 target price (up previously from $111.00) on shares of Monsanto in a report on Wednesday, June 15th. Finally, Vetr downgraded Monsanto from a “strong-buy” rating to a “buy” rating and set a $116.47 target price for the company. in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Monsanto has a consensus rating of “Buy” and a consensus target price of $114.21.
In other news, COO Brett D. Begemann sold 27,980 shares of the stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $103.62, for a total transaction of $2,899,287.60. Following the transaction, the chief operating officer now directly owns 102,480 shares in the company, valued at approximately $10,618,977.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Stern sold 12,797 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $101.77, for a total value of $1,302,350.69. Following the transaction, the chief executive officer now owns 21,583 shares in the company, valued at $2,196,501.91. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Opera Trading Capital purchased a new position in shares of Monsanto during the second quarter valued at approximately $672,000. O Shaughnessy Asset Management LLC raised its position in shares of Monsanto by 5.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 125,695 shares of the company’s stock valued at $11,660,000 after buying an additional 6,125 shares during the period. Alliancebernstein L.P. raised its position in shares of Monsanto by 3.1% in the second quarter. Alliancebernstein L.P. now owns 918,526 shares of the company’s stock valued at $94,985,000 after buying an additional 27,352 shares during the period. Choate Investment Advisors purchased a new position in shares of Monsanto during the second quarter valued at approximately $226,000. Finally, Advisor Partners LLC raised its position in shares of Monsanto by 0.4% in the second quarter. Advisor Partners LLC now owns 6,238 shares of the company’s stock valued at $645,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 79.02% of the company’s stock.
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 precision agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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