National Asset Management Inc. Trims Stake in Monsanto Company (MON)
National Asset Management Inc. cut its stake in shares of Monsanto Company (NYSE:MON) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,117 shares of the basic materials company’s stock after selling 228 shares during the quarter. National Asset Management Inc.’s holdings in Monsanto were worth $843,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Monsanto by 2.6% during the second quarter. Vanguard Group Inc. now owns 30,725,725 shares of the basic materials company’s stock worth $3,636,697,000 after acquiring an additional 784,418 shares during the period. BlackRock Inc. boosted its stake in shares of Monsanto by 6.5% during the second quarter. BlackRock Inc. now owns 27,898,255 shares of the basic materials company’s stock valued at $3,302,038,000 after purchasing an additional 1,705,439 shares in the last quarter. State Street Corp boosted its stake in shares of Monsanto by 0.6% during the second quarter. State Street Corp now owns 20,276,780 shares of the basic materials company’s stock valued at $2,399,965,000 after purchasing an additional 122,814 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Monsanto by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,299,502 shares of the basic materials company’s stock valued at $1,618,703,000 after purchasing an additional 499,639 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Monsanto by 0.7% during the second quarter. Northern Trust Corp now owns 7,092,929 shares of the basic materials company’s stock valued at $839,519,000 after purchasing an additional 47,725 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Monsanto Company (NYSE MON) traded up 1.99% during midday trading on Friday, reaching $122.30. 4,634,101 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $118.57 and its 200 day moving average price is $117.22. Monsanto Company has a 1-year low of $97.35 and a 1-year high of $122.79. The stock has a market capitalization of $53.75 billion, a P/E ratio of 24.03 and a beta of 1.07.
Monsanto (NYSE:MON) last issued its earnings results on Wednesday, October 4th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.61. Monsanto had a net margin of 15.44% and a return on equity of 42.40%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts predict that Monsanto Company will post $5.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, October 5th. Monsanto’s payout ratio is 42.27%.
A number of equities analysts have recently issued reports on the stock. Barclays PLC reiterated an “equal weight” rating and set a $124.00 price objective (up from $120.00) on shares of Monsanto in a research note on Thursday, October 5th. BMO Capital Markets reiterated a “buy” rating and set a $128.00 price objective on shares of Monsanto in a research note on Thursday, October 5th. Macquarie downgraded shares of Monsanto from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 4th. Wells Fargo & Company increased their price objective on shares of Monsanto from $107.50 to $118.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, BidaskClub upgraded shares of Monsanto from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Monsanto has a consensus rating of “Hold” and a consensus target price of $124.61.
In other news, EVP Steven Mizell sold 11,526 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $119.70, for a total value of $1,379,662.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, 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. In the last 90 days, insiders sold 37,026 shares of company stock valued at $4,440,341. Company insiders own 0.79% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “National Asset Management Inc. Trims Stake in Monsanto Company (MON)” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://www.watchlistnews.com/national-asset-management-inc-trims-stake-in-monsanto-company-mon/1628263.html.
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.
Want to see what other hedge funds are holding MON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monsanto Company (NYSE:MON).
Receive News & Ratings for Monsanto Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monsanto Company and related companies with Analyst Ratings Network's FREE daily email newsletter.