State Board of Administration of Florida Retirement System Purchases 2,491 Shares of Monsanto Company (MON)
State Board of Administration of Florida Retirement System grew its position in shares of Monsanto Company (NYSE:MON) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 651,439 shares of the basic materials company’s stock after acquiring an additional 2,491 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Monsanto worth $77,104,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in shares of Monsanto during the first quarter valued at approximately $113,000. Pinnacle Financial Partners Inc. bought a new stake in shares of Monsanto during the second quarter valued at approximately $114,000. JNBA Financial Advisors increased its holdings in shares of Monsanto by 3.9% during the first quarter. JNBA Financial Advisors now owns 1,193 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 45 shares in the last quarter. Armbruster Capital Management Inc. increased its holdings in shares of Monsanto by 12.2% during the second quarter. Armbruster Capital Management Inc. now owns 1,147 shares of the basic materials company’s stock valued at $136,000 after acquiring an additional 125 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Monsanto by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,288 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.
In related news, EVP Steven Mizell sold 11,300 shares of Monsanto stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $118.57, for a total value of $1,339,841.00. Following the completion of the sale, the executive vice president now owns 55,011 shares of the company’s stock, valued at $6,522,654.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert T. Fraley sold 52,410 shares of Monsanto stock in a transaction on Monday, July 10th. The stock was sold at an average price of $117.95, for a total value of $6,181,759.50. The disclosure for this sale can be found here. In the last three months, insiders sold 71,133 shares of company stock valued at $8,397,515. Corporate insiders own 0.79% of the company’s stock.
MON has been the subject of several recent research reports. Zacks Investment Research upgraded Monsanto from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company 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 reiterated a “neutral” rating and set a $128.00 price target (up previously from $125.00) on shares of Monsanto in a report on Tuesday, June 27th. Vetr upgraded Monsanto from a “hold” rating to a “buy” rating and set a $122.35 price target for the company in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $128.00 price target (up previously from $120.00) on shares of Monsanto in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $123.43.
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Monsanto Company (MON) opened at 117.21 on Monday. Monsanto Company has a 52-week low of $97.35 and a 52-week high of $118.97. The stock has a market cap of $51.49 billion, a PE ratio of 25.32 and a beta of 1.07. The firm has a 50-day moving average price of $117.18 and a 200 day moving average price of $115.99.
Monsanto (NYSE:MON) last posted its earnings results on Wednesday, June 28th. The basic materials company reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.19. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.18 billion. Monsanto had a return on equity of 45.26% and a net margin of 14.11%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 EPS. On average, analysts forecast that Monsanto Company will post $4.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, October 5th. Monsanto’s payout ratio is 46.75%.
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 digital agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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