Corebridge Financial Inc. Decreases Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Corebridge Financial Inc. cut its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,674 shares of the company's stock after selling 14,471 shares during the quarter. Corebridge Financial Inc.'s holdings in Archer-Daniels-Midland were worth $6,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Archer-Daniels-Midland by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 62,359,269 shares of the company's stock valued at $3,150,390,000 after purchasing an additional 706,567 shares in the last quarter. Community Bank N.A. raised its holdings in shares of Archer-Daniels-Midland by 18.1% in the 4th quarter. Community Bank N.A. now owns 29,671 shares of the company's stock valued at $1,499,000 after purchasing an additional 4,546 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Archer-Daniels-Midland during the fourth quarter valued at approximately $22,109,000. Sei Investments Co. raised its stake in Archer-Daniels-Midland by 5.5% in the fourth quarter. Sei Investments Co. now owns 144,957 shares of the company's stock worth $7,323,000 after buying an additional 7,503 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Archer-Daniels-Midland by 13.7% during the fourth quarter. American Century Companies Inc. now owns 443,113 shares of the company's stock worth $22,386,000 after buying an additional 53,351 shares during the period. Institutional investors own 78.28% of the company's stock.

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Archer-Daniels-Midland Price Performance

NYSE ADM traded down $0.45 during trading hours on Wednesday, hitting $47.76. 571,589 shares of the company's stock traded hands, compared to its average volume of 4,556,523. The company has a market capitalization of $22.91 billion, a PE ratio of 13.23, a PEG ratio of 1.54 and a beta of 0.67. The firm's 50-day moving average is $47.77 and its 200-day moving average is $51.97. Archer-Daniels-Midland Company has a 52-week low of $44.92 and a 52-week high of $66.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.81.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The firm had revenue of $21.50 billion for the quarter, compared to analysts' expectations of $22.77 billion. During the same quarter in the previous year, the company posted $1.36 EPS. The company's revenue was down 6.4% compared to the same quarter last year. Equities analysts forecast that Archer-Daniels-Midland Company will post 4.31 EPS for the current fiscal year.

Archer-Daniels-Midland announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.04 dividend on an annualized basis and a yield of 4.27%. This is an increase from Archer-Daniels-Midland's previous quarterly dividend of $0.50. Archer-Daniels-Midland's payout ratio is currently 56.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ADM shares. Bank of America cut their price target on Archer-Daniels-Midland from $54.00 to $48.00 and set an "underperform" rating on the stock in a report on Tuesday, February 11th. Barclays reduced their target price on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. Stephens lowered their price target on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. BMO Capital Markets decreased their target price on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Finally, Morgan Stanley cut their price target on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $53.63.

Archer-Daniels-Midland Company Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.