Insider Selling: Monsanto Company EVP Sells 3,827 Shares of Stock (MON)
Monsanto Company (NYSE:MON) EVP Kerry J. Preete unloaded 3,827 shares of the company’s stock on the open market in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $115.50, for a total transaction of $442,018.50. Following the transaction, the executive vice president now directly owns 41,299 shares in the company, valued at approximately $4,770,035. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on MON shares. Analysts at Morgan Stanley reiterated an “outperform” rating on shares of Monsanto Company in a research note on Monday, August 25th. They now have a $141.00 price target on the stock, down previously from $148.00. Separately, analysts at Jefferies Group cut their price target on shares of Monsanto Company from $140.00 to $130.00 in a research note on Monday, August 25th. Finally, analysts at BGC Financial downgraded shares of Monsanto Company from a “buy” rating to a “hold” rating in a research note on Friday, August 1st. They now have a $5.85 price target on the stock, down previously from $6.70. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Monsanto Company presently has a consensus rating of “Buy” and an average price target of $129.80.
Shares of Monsanto Company (NYSE:MON) traded up 0.31% on Wednesday, hitting $115.30. 2,227,522 shares of the company’s stock traded hands. Monsanto Company has a 52 week low of $98.84 and a 52 week high of $128.79. The stock’s 50-day moving average is $116.8 and its 200-day moving average is $116.3. The company has a market cap of $60.486 billion and a price-to-earnings ratio of 23.10. Monsanto Company also was the target of a significant drop in short interest in August. As of August 15th, there was short interest totalling 37,819,962 shares, a drop of 7.6% from the July 31st total of 40,945,183 shares. Based on an average trading volume of 3,733,711 shares, the short-interest ratio is presently 10.1 days. Approximately 7.2% of the company’s stock are sold short.
Monsanto Company (NYSE:MON) last announced its earnings results on Wednesday, June 25th. The company reported $1.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.56 by $0.06. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts predict that Monsanto Company will post $5.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Investors of record on Friday, October 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, October 8th. This is an increase from Monsanto Company’s previous quarterly dividend of $0.43.
Monsanto Company (NYSE:MON) along with its subsidiaries, is a provider of agricultural products for farmers.
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