Capital International Investors Sells 589,423 Shares of Monsanto Company (MON)
Capital International Investors decreased its stake in Monsanto Company (NYSE:MON) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,472,053 shares of the basic materials company’s stock after selling 589,423 shares during the period. Monsanto accounts for 1.3% of Capital International Investors’ portfolio, making the stock its 18th largest position. Capital International Investors owned approximately 1.93% of Monsanto worth $1,002,752,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in MON. Acrospire Investment Management LLC bought a new position in Monsanto during the 1st quarter worth $113,000. Pinnacle Financial Partners Inc. acquired a new stake in Monsanto in the second quarter worth $114,000. Bruderman Asset Management LLC acquired a new stake in Monsanto in the second quarter worth $116,000. JNBA Financial Advisors increased its position in Monsanto by 3.9% in the first 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 during the period. Finally, Armbruster Capital Management Inc. increased its position in Monsanto by 12.2% in the second 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 during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.
In other Monsanto news, VP Duraiswami Narain sold 2,860 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $120.00, for a total transaction of $343,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brett D. Begemann sold 22,640 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $120.03, for a total transaction of $2,717,479.20. Following the sale, the chief operating officer now owns 85,439 shares of the company’s stock, valued at approximately $10,255,243.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,910 shares of company stock worth $9,242,439. Insiders own 0.79% of the company’s stock.
A number of research firms have issued reports on MON. Zacks Investment Research upgraded Monsanto from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Friday, June 16th. UBS AG lowered shares of Monsanto from a “positive” rating to a “neutral” rating in a research report on Tuesday, June 27th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $128.00 price target (up previously from $125.00) on shares of Monsanto in a research report on Tuesday, June 27th. Vetr raised shares of Monsanto from a “hold” rating to a “buy” rating and set a $122.35 price objective on the stock in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $128.00 price objective (up previously from $120.00) on shares of Monsanto in a report on Thursday, June 29th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Monsanto presently has a consensus rating of “Hold” and an average target price of $125.53.
Monsanto Company (NYSE:MON) traded up 0.305% during mid-day trading on Monday, hitting $120.185. The stock had a trading volume of 809,869 shares. The stock has a 50 day moving average of $117.37 and a 200-day moving average of $116.53. The firm has a market cap of $52.80 billion, a P/E ratio of 25.958 and a beta of 1.07. Monsanto Company has a 1-year low of $97.35 and a 1-year high of $120.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.16 dividend on an annualized basis and a yield of 1.80%. Monsanto’s payout ratio is presently 46.75%.
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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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