Centennial Wealth Advisory LLC has made a significant investment in Archer Daniels Midland Company (NYSE: ADM), acquiring 12,512 shares valued at approximately $660,000 during the second quarter of 2023. This information comes from the fund’s recent Form 13F filing with the Securities and Exchange Commission.
Other institutional investors have also adjusted their positions in Archer Daniels Midland. For instance, Handelsbanken Fonder AB established a new position in the first quarter valued at around $1,183,000. Bell Bank increased its holdings by 11.0%, now owning 167,536 shares worth $8,043,000 after acquiring an additional 16,558 shares. Additionally, SG Americas Securities LLC and Sarasin & Partners LLP both entered new positions in the first quarter, valued at approximately $333,000 and $1,200,000, respectively. Cambridge Investment Research Advisors Inc. also raised its stake by 18.6%, now holding 167,515 shares valued at $8,042,000. Overall, institutional investors and hedge funds control 78.28% of the stock.
Current Stock Performance and Financial Metrics
As of the latest trading session, shares of Archer Daniels Midland opened at $60.36. The company’s stock has experienced modest fluctuations, with a fifty-day moving average at $59.70 and a two-hundred day moving average at $52.97. Financial metrics indicate a debt-to-equity ratio of 0.34, a current ratio of 1.42, and a quick ratio of 0.90. Archer Daniels Midland boasts a market capitalization of $29.00 billion and a P/E ratio of 26.59, with a one-year range between a low of $40.98 and a high of $64.38.
The company also declared a quarterly dividend of $0.51, paid on September 10, 2023, to shareholders on record as of August 20, 2023. This dividend translates to an annualized payout of $2.04 and a yield of 3.4%. The current payout ratio stands at 89.87%.
Analysts’ Ratings and Market Outlook
Wall Street analysts have recently provided updated ratings on Archer Daniels Midland shares. Notably, Wall Street Zen upgraded the stock from a “sell” rating to a “hold” rating on August 9, 2023. Furthermore, UBS Group reiterated a “buy” rating, raising its price target to $70.00 from a previous $60.00. JPMorgan Chase & Co. began coverage with a “neutral” rating and a target of $61.00.
Additionally, Morgan Stanley increased their price objective from $47.00 to $57.00, while Barclays upgraded its rating from “underweight” to “equal weight,” adjusting its price target from $50.00 to $61.00. Currently, one analyst has rated the stock as a “buy,” six as “hold,” and one as “sell,” resulting in an average rating of “hold” and a consensus price target of $55.50.
Archer Daniels Midland engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions across several countries, including the United States, Switzerland, Brazil, and the United Kingdom. The company operates in three primary segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.
