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Monsanto Company (MON) Downgraded to Sell at Goldman Sachs

Submitted by Food Democracy Now on March 7, 2016 - 7:06am

By: Maddie Sorensen

Goldman Sachs lowered shares of Monsanto Company (NYSE:MON) from a neutral rating to a sell rating in a research report report published on Friday morning, The Fly reports. Goldman Sachs currently has $84.00 price objective on the stock, down from their prior price objective of $86.00.

MON has been the subject of several other reports. Berenberg Bank reduced their target price on Monsanto Company from $145.00 to $125.00 and set a buy rating for the company in a research note on Tuesday, November 10th. Jefferies Group reaffirmed a hold rating and set a $102.00 target price (up from $98.00) on shares of Monsanto Company in a research note on Wednesday, February 10th. Zacks Investment Research cut Monsanto Company from a hold rating to a sell rating in a research report on Saturday, January 23rd. Deutsche Bank reiterated a buy rating and set a $104.00 price target on shares of Monsanto Company in a research report on Friday, November 20th. Finally, Atlantic Securities upgraded Monsanto Company from a neutral rating to an overweight rating and set a $120.00 price target for the company in a research report on Tuesday, December 1st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $108.54.

Shares of Monsanto Company (NYSE:MON) opened at 85.89 on Friday. The company has a market capitalization of $37.82 billion and a P/E ratio of 22.34. Monsanto Company has a 52-week low of $81.22 and a 52-week high of $123.82. The stock’s 50 day moving average price is $89.34 and its 200 day moving average price is $92.46.

Monsanto Company (NYSE:MON) last announced its earnings results on Wednesday, January 6th. The company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.41 billion. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that Monsanto Company will post $4.82 earnings per share for the current fiscal year. 

The business also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, April 8th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, April 6th. 

Several hedge funds and institutional investors have added to or reduced their stakes in MON. Massachusetts Financial Services Co. MA increased its position in Monsanto Company by 17.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,319,095 shares of the company’s stock worth $1,410,717,000 after buying an additional 2,094,420 shares during the last quarter. Independent Franchise Partners LLP increased its position in Monsanto Company by 17.4% in the fourth quarter. Independent Franchise Partners LLP now owns 3,837,369 shares of the company’s stock worth $378,057,000 after buying an additional 569,891 shares during the last quarter. Ameriprise Financial Inc. increased its position in Monsanto Company by 735.6% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,354 shares of the company’s stock worth $329,384,000 after buying an additional 2,943,231 shares during the last quarter. Baillie Gifford & Co. increased its position in Monsanto Company by 3.6% in the fourth quarter. Baillie Gifford & Co. now owns 3,294,874 shares of the company’s stock worth $324,610,000 after buying an additional 116,004 shares during the last quarter. Finally, General Electric Co. increased its position in Monsanto Company by 0.5% in the fourth quarter. General Electric Co. now owns 2,719,803 shares of the company’s stock worth $267,955,000 after buying an additional 14,735 shares during the last quarter. 

Monsanto Company (NYSE:MON) is a provider of agricultural products for farmers. The Company’s seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity, reduce the costs of farming, and produce better foods for consumers and better feed for animals.

Originally Published: Financial Market News

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