Bank of New York Mellon Corp cut its stake in Syngenta AG (NYSE:SYT) by 41.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,482 shares of the company’s stock after selling 12,252 shares during the period. Bank of New York Mellon Corp’s holdings in Syngenta AG were worth $1,342,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Syngenta AG by 1,786.4% in the first quarter. Renaissance Technologies LLC now owns 416,900 shares of the company’s stock valued at $34,528,000 after buying an additional 394,800 shares during the period. Arrowgrass Capital Partners US LP bought a new stake in Syngenta AG during the first quarter valued at approximately $19,930,000. Goldman Sachs Group Inc. boosted its stake in Syngenta AG by 47.9% in the first quarter. Goldman Sachs Group Inc. now owns 229,420 shares of the company’s stock valued at $19,000,000 after buying an additional 74,272 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Syngenta AG by 16.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 225,123 shares of the company’s stock valued at $17,391,000 after buying an additional 31,600 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Syngenta AG by 10.1% in the first quarter. BlackRock Inc. now owns 122,654 shares of the company’s stock valued at $10,158,000 after buying an additional 11,241 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.
Syngenta AG (NYSE:SYT) traded up 0.73% during mid-day trading on Wednesday, reaching $85.97. 589,923 shares of the company’s stock were exchanged. Syngenta AG has a 52-week low of $61.81 and a 52-week high of $89.13. The stock has a 50-day moving average price of $87.67 and a 200 day moving average price of $81.99. The company has a market cap of $39.51 billion, a PE ratio of 33.49 and a beta of 1.16.
SYT has been the subject of several research reports. Deutsche Bank AG restated a “buy” rating on shares of Syngenta AG in a report on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Syngenta AG from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Sanford C. Bernstein cut shares of Syngenta AG from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $90.20 to $92.20 in a report on Tuesday, September 6th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. upgraded shares of Syngenta AG from a “mkt perform” rating to an “outperform” rating in a report on Friday, July 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.10.
About Syngenta AG
Syngenta AG is an agribusiness operating in the crop protection and seeds business. The Company is engaged in the discovery, development, manufacture and marketing of a range of products designed to improve crop yields and food quality. The Company operates through five segments: the four geographic regions, Europe, Africa and Middle East, North America, Latin America and Asia Pacific, consisting of the integrated Crop Protection and Seeds business, and the global Lawn and Garden business.