Monsanto Co. (MON) Given a $128.00 Price Target at JPMorgan Chase & Co.
Monsanto Co. (NYSE:MON) received a $128.00 target price from research analysts at JPMorgan Chase & Co. in a research note issued on Thursday. The brokerage presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 23.67% from the stock’s previous close.
MON has been the topic of several other reports. 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 report on Tuesday, September 27th. Jefferies Group restated a “buy” rating on shares of Monsanto in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $128.00 price objective on Monsanto and gave the stock a “buy” rating in a report on Thursday, September 15th. Citigroup Inc. restated a “neutral” rating and issued a $112.00 price objective (up from $94.00) on shares of Monsanto in a report on Friday, July 1st. Finally, Zacks Investment Research upgraded Monsanto from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $114.67.
Monsanto (NYSE:MON) traded down 0.08% during midday trading on Thursday, reaching $103.42. 1,798,359 shares of the company were exchanged. The firm’s 50 day moving average price is $104.88 and its 200-day moving average price is $101.34. The stock has a market capitalization of $45.25 billion, a P/E ratio of 45.52 and a beta of 1.19. Monsanto has a 52 week low of $83.73 and a 52 week high of $114.26.
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Monsanto (NYSE:MON) last released its earnings results on Wednesday, October 5th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Monsanto had a return on equity of 46.07% and a net margin of 9.89%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast that Monsanto will post $4.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, October 5th. Monsanto’s dividend payout ratio is presently 71.05%.
In other news, CEO Michael K. Stern sold 12,797 shares of Monsanto stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $101.77, for a total transaction of $1,302,350.69. Following the transaction, the chief executive officer now owns 21,583 shares in the company, valued at $2,196,501.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brett D. Begemann sold 27,980 shares of Monsanto stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $103.62, for a total value of $2,899,287.60. Following the transaction, the chief operating officer now owns 102,480 shares in the company, valued at approximately $10,618,977.60. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP increased its position in shares of Monsanto by 18.6% in the second quarter. WFG Advisors LP now owns 1,009 shares of the company’s stock worth $104,000 after buying an additional 158 shares in the last quarter. Signaturefd LLC increased its position in shares of Monsanto by 62.1% in the second quarter. Signaturefd LLC now owns 1,083 shares of the company’s stock worth $112,000 after buying an additional 415 shares in the last quarter. Mycio Wealth Partners LLC increased its position in shares of Monsanto by 1.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,094 shares of the company’s stock worth $113,000 after buying an additional 12 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its position in shares of Monsanto by 1,179.1% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,100 shares of the company’s stock worth $114,000 after buying an additional 1,014 shares in the last quarter. Finally, Carnick & Kubik LLC acquired a new position in shares of Monsanto during the first quarter worth $130,000. Institutional investors and hedge funds own 79.02% 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 precision agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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