Monsanto (MON) Holdings Cut by M&T Bank Corp
M&T Bank Corp lessened its holdings in Monsanto (NYSE:MON) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 134,898 shares of the basic materials company’s stock after selling 1,753 shares during the period. M&T Bank Corp’s holdings in Monsanto were worth $15,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in MON. Americafirst Capital Management LLC bought a new position in Monsanto in the 3rd quarter valued at $148,000. S&CO Inc. bought a new position in Monsanto in the 3rd quarter valued at $216,000. McKinley Carter Wealth Services Inc. bought a new position in Monsanto in the 4th quarter valued at $218,000. Corundum Group Inc. bought a new position in Monsanto in the 3rd quarter valued at $228,000. Finally, Intact Investment Management Inc. bought a new position in Monsanto in the 3rd quarter valued at $239,000. Hedge funds and other institutional investors own 75.62% of the company’s stock.
In other Monsanto news, EVP Steven Mizell sold 8,100 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $119.35, for a total value of $966,735.00. Following the completion of the transaction, the executive vice president now owns 56,743 shares in the company, valued at approximately $6,772,277.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by company insiders.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Thursday, January 4th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.77 billion. Monsanto had a return on equity of 40.13% and a net margin of 16.38%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. research analysts forecast that Monsanto will post 5.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $2.16 annualized dividend and a yield of 1.82%. Monsanto’s dividend payout ratio is currently 39.85%.
A number of research analysts have issued reports on the company. Royal Bank of Canada restated a “hold” rating and issued a $128.00 price objective on shares of Monsanto in a research note on Wednesday, November 15th. Deutsche Bank restated a “buy” rating on shares of Monsanto in a research note on Tuesday, January 16th. Wells Fargo & Co restated a “market perform” rating and issued a $128.00 price objective (up previously from $118.00) on shares of Monsanto in a research note on Wednesday, January 17th. Finally, Zacks Investment Research downgraded Monsanto from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $127.30.
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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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