Monsanto’s (MON) “Buy” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reiterated their buy rating on shares of Monsanto Company (NYSE:MON) in a report issued on Friday morning. They currently have a $128.00 target price on the basic materials company’s stock.
A number of other research analysts also recently commented on MON. UBS Group AG downgraded shares of Monsanto from a positive rating to a neutral rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Monsanto from a hold rating to a buy rating and set a $131.00 target price on the stock in a research report on Monday. BidaskClub downgraded shares of Monsanto from a hold rating to a sell rating in a research report on Sunday, July 16th. Piper Jaffray Companies set a $128.00 target price on shares of Monsanto and gave the company a buy rating in a research report on Friday, August 11th. Finally, Vetr raised shares of Monsanto from a hold rating to a buy rating and set a $122.35 target price on the stock in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $123.43.
Shares of Monsanto (MON) opened at 117.21 on Friday. The company has a market cap of $51.49 billion, a P/E ratio of 25.32 and a beta of 1.07. The stock’s 50 day moving average is $117.18 and its 200 day moving average is $115.99. Monsanto has a 1-year low of $97.35 and a 1-year high of $118.97.
Monsanto (NYSE:MON) last announced its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.19. Monsanto had a net margin of 14.11% and a return on equity of 45.26%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the business earned $2.17 EPS. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Monsanto will post $4.89 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, October 5th. Monsanto’s dividend payout ratio (DPR) is presently 46.75%.
In other news, EVP Robert T. Fraley sold 52,410 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $117.95, for a total value of $6,181,759.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Janet M. Holloway sold 7,423 shares of the firm’s 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 completion of the sale, the senior vice president now owns 33,645 shares of the company’s stock, valued at approximately $3,970,110. The disclosure for this sale can be found here. Insiders sold a total of 71,133 shares of company stock valued at $8,397,515 in the last 90 days. Company insiders own 0.79% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MON. Acrospire Investment Management LLC acquired a new stake in shares of Monsanto in the 1st quarter worth $113,000. Pinnacle Financial Partners Inc. acquired a new stake in shares of Monsanto in the 2nd quarter worth $114,000. Bruderman Asset Management LLC acquired a new stake in shares of Monsanto in the 2nd quarter worth $116,000. Tower Research Capital LLC TRC lifted its stake in shares of Monsanto by 230.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,076 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 750 shares during the period. Finally, JNBA Financial Advisors lifted its stake in shares of Monsanto by 3.9% in the 1st quarter. JNBA Financial Advisors now owns 1,193 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 45 shares during the period. Institutional investors own 74.79% of the company’s stock.
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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