Monsanto Company (MON) Shares Sold by Summit X LLC
Summit X LLC lessened its position in Monsanto Company (NYSE:MON) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,340 shares of the basic materials company’s stock after selling 9,491 shares during the quarter. Monsanto comprises 3.7% of Summit X LLC’s holdings, making the stock its 3rd largest position. Summit X LLC’s holdings in Monsanto were worth $5,557,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MON. Pinnacle Financial Partners Inc. purchased a new position in Monsanto during the second quarter worth approximately $114,000. Bruderman Asset Management LLC purchased a new position in Monsanto during the second quarter worth approximately $116,000. Tower Research Capital LLC TRC lifted its position in Monsanto by 230.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,076 shares of the basic materials company’s stock worth $128,000 after buying an additional 750 shares in the last quarter. Armbruster Capital Management Inc. lifted its position in Monsanto by 12.2% during 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 in the last quarter. Finally, JNBA Financial Advisors lifted its position in Monsanto by 3.9% during 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 in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.
In other news, VP Nicole M. Ringenberg sold 7,890 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $122.25, for a total transaction of $964,552.50. Following the completion of the sale, the vice president now directly owns 38,600 shares in the company, valued at $4,718,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Duraiswami Narain sold 2,860 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $120.00, for a total value of $343,200.00. The disclosure for this sale can be found here. Insiders have sold 44,916 shares of company stock valued at $5,404,894 over the last 90 days. Insiders own 0.79% of the company’s stock.
A number of brokerages recently commented on MON. UBS AG downgraded Monsanto from a “positive” rating to a “neutral” rating in a research report on Tuesday, June 27th. BidaskClub downgraded Monsanto from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research downgraded Monsanto from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Piper Jaffray Companies set a $128.00 price objective on Monsanto and gave the stock a “buy” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company lifted their price objective on Monsanto from $107.50 to $118.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 10th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $124.61.
Monsanto Company (NYSE:MON) traded down 0.086% during midday trading on Monday, reaching $122.045. The company’s stock had a trading volume of 198,969 shares. Monsanto Company has a 52 week low of $97.35 and a 52 week high of $122.80. The stock has a market capitalization of $53.64 billion, a PE ratio of 23.982 and a beta of 1.07. The firm’s 50-day moving average price is $119.50 and its 200-day moving average price is $117.58.
Monsanto (NYSE:MON) last announced its earnings results on Wednesday, October 4th. The basic materials company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.61. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.51 billion. Monsanto had a return on equity of 1.24% and a net margin of 0.93%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, analysts anticipate that Monsanto Company will post $5.70 earnings per share for the current year.
The firm 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 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 1.77%. Monsanto’s dividend payout ratio is presently 42.27%.
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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