Hartford Investment Management Co. Has $11.30 Million Stake in Monsanto Company (NYSE:MON)
Hartford Investment Management Co. lowered its stake in Monsanto Company (NYSE:MON) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,460 shares of the basic materials company’s stock after selling 4,331 shares during the period. Hartford Investment Management Co.’s holdings in Monsanto were worth $11,299,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Whitnell & Co. increased its position in shares of Monsanto by 35.4% in the first quarter. Whitnell & Co. now owns 979 shares of the basic materials company’s stock valued at $111,000 after buying an additional 256 shares in the last quarter. Hartford Financial Management Inc. acquired a new position in shares of Monsanto during the first quarter valued at about $113,000. Acrospire Investment Management LLC acquired a new position in shares of Monsanto during the first quarter valued at about $113,000. JNBA Financial Advisors increased its position in shares of Monsanto by 3.9% in the first quarter. JNBA Financial Advisors now owns 1,193 shares of the basic materials company’s stock valued at $135,000 after buying an additional 45 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of Monsanto by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,288 shares of the basic materials company’s stock valued at $145,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 75.31% of the company’s stock.
Shares of Monsanto Company (MON) traded down 0.33% during mid-day trading on Friday, reaching $116.55. 1,012,471 shares of the company’s stock traded hands. Monsanto Company has a 52 week low of $97.35 and a 52 week high of $118.97. The company’s 50 day moving average is $117.47 and its 200-day moving average is $115.08. The firm has a market cap of $51.20 billion, a price-to-earnings ratio of 25.17 and a beta of 1.07.
Monsanto (NYSE:MON) last issued its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Monsanto had a net margin of 14.11% and a return on equity of 45.26%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the business posted $2.17 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts expect that Monsanto Company will post $4.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.54 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.16 annualized dividend and a yield of 1.85%. Monsanto’s payout ratio is currently 46.75%.
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A number of equities research analysts have weighed in on the company. Citigroup Inc. restated a “neutral” rating and issued a $125.00 target price (up from $122.00) on shares of Monsanto in a research report on Friday, April 14th. BidaskClub upgraded Monsanto from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Vetr upgraded Monsanto from a “hold” rating to a “buy” rating and set a $122.35 target price for the company in a research report on Tuesday, June 27th. Barclays PLC upped their target price on Monsanto from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 29th. Finally, Jefferies Group LLC downgraded Monsanto from a “buy” rating to a “hold” rating and set a $128.00 target price for the company. in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Monsanto has an average rating of “Hold” and an average price target of $123.15.
In other Monsanto news, SVP Janet M. Holloway sold 7,423 shares of Monsanto stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $118.00, for a total value of $875,914.00. Following the sale, the senior vice president now directly owns 33,645 shares in the company, valued at approximately $3,970,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Janet M. Holloway sold 3,337 shares of Monsanto stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $118.00, for a total transaction of $393,766.00. Following the completion of the sale, the senior vice president now owns 44,405 shares in the company, valued at $5,239,790. The disclosure for this sale can be found here. Insiders sold a total of 74,470 shares of company stock worth $8,791,281 over the last quarter. Company insiders own 0.79% of the company’s stock.
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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