Geode Capital Management LLC Raises Position in Archer-Daniels-Midland Company (NYSE:ADM)

Geode Capital Management LLC grew its stake in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,715,040 shares of the company's stock after purchasing an additional 247,647 shares during the quarter. Geode Capital Management LLC owned approximately 2.45% of Archer-Daniels-Midland worth $590,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADM. Public Sector Pension Investment Board grew its stake in shares of Archer-Daniels-Midland by 4.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 18,804 shares of the company's stock worth $1,123,000 after acquiring an additional 800 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Archer-Daniels-Midland by 33.6% during the third quarter. Janus Henderson Group PLC now owns 185,101 shares of the company's stock worth $11,048,000 after purchasing an additional 46,511 shares during the last quarter. Investment Management Corp of Ontario grew its position in Archer-Daniels-Midland by 48.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 16,457 shares of the company's stock worth $983,000 after purchasing an additional 5,400 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Archer-Daniels-Midland by 249.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 70,845 shares of the company's stock valued at $4,232,000 after buying an additional 50,544 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Archer-Daniels-Midland by 21.9% during the 3rd quarter. Quarry LP now owns 46,402 shares of the company's stock worth $2,772,000 after buying an additional 8,348 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company's stock.

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Archer-Daniels-Midland Stock Performance

Archer-Daniels-Midland stock traded up $2.56 during midday trading on Wednesday, reaching $44.35. The stock had a trading volume of 5,981,731 shares, compared to its average volume of 3,634,180. The firm has a market capitalization of $21.28 billion, a PE ratio of 12.29, a P/E/G ratio of 1.54 and a beta of 0.66. Archer-Daniels-Midland Company has a 12 month low of $40.98 and a 12 month high of $66.08. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average price is $46.67 and its 200 day moving average price is $51.17.

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

Archer-Daniels-Midland declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a $0.51 dividend. The ex-dividend date was Tuesday, February 18th. This is a boost from Archer-Daniels-Midland's previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 4.60%. Archer-Daniels-Midland's payout ratio is 56.51%.

Wall Street Analysts Forecast Growth

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

Archer-Daniels-Midland 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.