BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $24 Million Stake in Monsanto Company (MON)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in Monsanto Company (NYSE:MON) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,325 shares of the basic materials company’s stock after selling 1,500 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Monsanto were worth $24,003,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of MON. Pinnacle Financial Partners Inc. bought a new position in Monsanto in the 2nd quarter worth $114,000. Bruderman Asset Management LLC bought a new position in Monsanto in the 2nd quarter worth $116,000. Tower Research Capital LLC TRC boosted its holdings in Monsanto by 230.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,076 shares of the basic materials company’s stock worth $128,000 after buying an additional 750 shares during the period. Armbruster Capital Management Inc. boosted its holdings in Monsanto by 12.2% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,147 shares of the basic materials company’s stock worth $136,000 after buying an additional 125 shares during the period. Finally, Enterprise Financial Services Corp boosted its holdings in Monsanto by 1.2% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,384 shares of the basic materials company’s stock worth $164,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.
Shares of Monsanto Company (NYSE:MON) traded down $0.18 during trading hours on Thursday, hitting $118.08. 1,376,600 shares of the company were exchanged, compared to its average volume of 1,959,747. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.12. Monsanto Company has a 1 year low of $104.08 and a 1 year high of $122.79. The company has a market cap of $52,058.05, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04.
Monsanto (NYSE:MON) last announced its quarterly earnings results on Wednesday, October 4th. The basic materials company reported $0.20 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. equities research analysts predict that Monsanto Company will post 5.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, January 4th. Monsanto’s payout ratio is 42.27%.
In related news, COO Brett D. Begemann sold 22,640 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $120.03, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre Courduroux sold 4,320 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $122.00, for a total transaction of $527,040.00. Following the completion of the transaction, the chief financial officer now directly owns 48,388 shares of the company’s stock, valued at approximately $5,903,336. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,236 shares of company stock valued at $5,931,934. 0.79% of the stock is owned by insiders.
MON has been the subject of several recent analyst reports. Piper Jaffray Companies set a $128.00 target price on shares of Monsanto and gave the stock a “buy” rating in a report on Friday, August 11th. UBS downgraded shares of Monsanto from a “buy” rating to a “neutral” rating and set a $128.00 target price for the company. in a report on Friday, August 18th. BidaskClub raised shares of Monsanto from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research raised shares of Monsanto from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Tuesday, August 29th. Finally, BMO Capital Markets reissued a “buy” rating and set a $128.00 price objective on shares of Monsanto in a report on Friday, September 1st. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $124.61.
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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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