Monsanto Co. (NYSE:MON) – Equities researchers at Credit Agricole SA dropped their FY2017 earnings estimates for Monsanto in a research note issued on Wednesday. Credit Agricole SA analyst M. Connelly now expects that the firm will post earnings per share of $4.80 for the year, down from their prior forecast of $4.94. Credit Agricole SA currently has a “Underperform” rating and a $110.00 price target on the stock. Credit Agricole SA also issued estimates for Monsanto’s FY2018 earnings at $5.72 EPS and FY2019 earnings at $6.81 EPS.
MON has been the topic of several other research reports. TheStreet lowered Monsanto from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. Citigroup Inc. raised their price target on Monsanto from $112.00 to $116.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Monness Crespi & Hardt cut their price target on Monsanto from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Monday. BMO Capital Markets set a $128.00 target price on Monsanto and gave the company a “buy” rating in a research note on Thursday, September 15th. Finally, Goldman Sachs Group Inc. upgraded Monsanto from a “sell” rating to a “neutral” rating and set a $104.00 target price on the stock in a research note on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $114.67.
Monsanto (NYSE:MON) traded up 0.18% during midday trading on Friday, hitting $103.69. 1,245,915 shares of the stock traded hands. Monsanto has a 12 month low of $83.73 and a 12 month high of $114.26. The company has a 50-day moving average of $104.88 and a 200-day moving average of $101.34. The stock has a market cap of $45.37 billion, a PE ratio of 45.64 and a beta of 1.19.
Monsanto (NYSE:MON) last released its quarterly earnings results on Wednesday, October 5th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. The firm earned $2.56 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of MON. FMR LLC boosted its stake in shares of Monsanto by 41.3% in the second quarter. FMR LLC now owns 16,593,757 shares of the company’s stock valued at $1,715,960,000 after buying an additional 4,851,499 shares during the last quarter. Third Point LLC purchased a new stake in shares of Monsanto during the second quarter valued at approximately $206,820,000. Carmignac Gestion purchased a new stake in shares of Monsanto during the second quarter valued at approximately $197,555,000. TIAA CREF Investment Management LLC boosted its stake in shares of Monsanto by 50.4% in the second quarter. TIAA CREF Investment Management LLC now owns 4,658,464 shares of the company’s stock valued at $481,732,000 after buying an additional 1,560,646 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Monsanto by 205.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,705,121 shares of the company’s stock valued at $176,327,000 after buying an additional 1,147,200 shares during the last quarter. Hedge funds and other institutional investors own 79.02% of the company’s stock.
In related news, COO Brett D. Begemann sold 27,980 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $103.62, for a total transaction of $2,899,287.60. Following the completion of the sale, the chief operating officer now directly owns 102,480 shares in the company, valued at $10,618,977.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael K. Stern sold 12,797 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $101.77, for a total value of $1,302,350.69. Following the sale, the chief executive officer now owns 21,583 shares of the company’s stock, valued at $2,196,501.91. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, October 5th. Monsanto’s payout ratio is 71.05%.