Destination Wealth Management Purchases 1,043 Shares of Monsanto Company (MON)
Destination Wealth Management raised its position in Monsanto Company (NYSE:MON) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,982 shares of the basic materials company’s stock after acquiring an additional 1,043 shares during the period. Destination Wealth Management’s holdings in Monsanto were worth $9,467,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Acrospire Investment Management LLC acquired a new position in shares of Monsanto in the 1st quarter worth approximately $113,000. Pinnacle Financial Partners Inc. acquired a new position in shares of Monsanto in the 2nd quarter worth approximately $114,000. Bruderman Asset Management LLC acquired a new position in shares of Monsanto in the 2nd quarter worth approximately $116,000. JNBA Financial Advisors raised its holdings 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 buying an additional 45 shares in the last quarter. Finally, Armbruster Capital Management Inc. raised its holdings in shares of Monsanto by 12.2% in the 2nd 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 in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.
Monsanto Company (NYSE:MON) opened at 119.40 on Friday. The company has a market capitalization of $52.46 billion, a price-to-earnings ratio of 25.79 and a beta of 1.07. The firm has a 50-day moving average price of $117.37 and a 200-day moving average price of $116.53. Monsanto Company has a 12 month low of $97.35 and a 12 month high of $119.60.
Monsanto (NYSE:MON) last announced its quarterly earnings results on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.18 billion. Monsanto had a net margin of 14.11% and a return on equity of 45.26%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.17 earnings per share. On average, equities analysts anticipate that Monsanto Company will post $4.89 earnings per share for the current fiscal year.
The business 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 annualized dividend and a dividend yield of 1.81%. Monsanto’s dividend payout ratio (DPR) is presently 46.75%.
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In other news, EVP Robert T. Fraley sold 52,410 shares of the company’s 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven Mizell sold 11,300 shares of the company’s stock in a transaction 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 owns 55,011 shares of the company’s stock, valued at $6,522,654.27. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on MON. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Thursday, September 14th. BidaskClub raised Monsanto from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. BMO Capital Markets reissued a “buy” rating and issued a $128.00 target price on shares of Monsanto in a report on Friday, September 1st. Vetr raised Monsanto from a “hold” rating to a “buy” rating and set a $122.35 target price for the company in a report on Tuesday, June 27th. Finally, Barclays PLC increased their target price on Monsanto from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, June 29th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $124.09.
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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