Addenda Capital Inc. Has $7 Million Position in Monsanto Company (MON)
Addenda Capital Inc. cut its stake in shares of Monsanto Company (NYSE:MON) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,439 shares of the basic materials company’s stock after selling 1,850 shares during the period. Addenda Capital Inc.’s holdings in Monsanto were worth $7,003,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in MON. Ballentine Partners LLC acquired a new position in shares of Monsanto during the second quarter valued at approximately $275,000. Highstreet Asset Management Inc. acquired a new position in shares of Monsanto during the second quarter valued at approximately $675,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Monsanto by 58.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 141,258 shares of the basic materials company’s stock valued at $16,719,000 after buying an additional 52,040 shares during the last quarter. Legal & General Group Plc increased its position in shares of Monsanto by 7.8% in the second quarter. Legal & General Group Plc now owns 2,289,543 shares of the basic materials company’s stock valued at $270,984,000 after buying an additional 165,396 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Monsanto by 1.3% in the second quarter. Alps Advisors Inc. now owns 4,712 shares of the basic materials company’s stock valued at $558,000 after buying an additional 61 shares during the last quarter. Institutional investors own 74.79% of the company’s stock.
Shares of Monsanto Company (NYSE:MON) opened at 117.21 on Friday. The company has a market cap of $51.49 billion, a PE ratio of 25.32 and a beta of 1.07. The firm’s 50 day moving average is $117.18 and its 200 day moving average is $115.99. Monsanto Company has a 12 month low of $97.35 and a 12 month high of $118.97.
Monsanto (NYSE:MON) last issued its quarterly earnings results on Wednesday, June 28th. The basic materials company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. Monsanto had a net margin of 14.11% and a return on equity of 45.26%. Monsanto’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 earnings per share. On average, equities analysts predict that Monsanto Company will post $4.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.84%. Monsanto’s dividend payout ratio (DPR) is presently 46.75%.
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MON has been the topic of several recent analyst reports. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Friday, June 16th. UBS AG downgraded Monsanto from a “positive” rating to a “neutral” rating in a report on Tuesday, June 27th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $128.00 target price (up from $125.00) on shares of Monsanto in a report on Tuesday, June 27th. Vetr raised Monsanto from a “hold” rating to a “buy” rating and set a $122.35 target price on the stock in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reissued 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. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $123.43.
In other news, EVP Robert T. Fraley sold 52,410 shares of Monsanto stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Janet M. Holloway sold 7,423 shares of Monsanto stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $118.00, for a total transaction of $875,914.00. Following the transaction, the senior vice president now owns 33,645 shares in the company, valued at approximately $3,970,110. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,133 shares of company stock worth $8,397,515. 0.79% of the stock is owned by company 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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