Bank of America Corp DE Sells 658,111 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Bank of America Corp DE cut its holdings in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,910,721 shares of the company's stock after selling 658,111 shares during the period. Bank of America Corp DE owned approximately 0.40% of Archer-Daniels-Midland worth $96,530,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bearing Point Capital LLC acquired a new position in shares of Archer-Daniels-Midland during the fourth quarter valued at about $9,599,000. Alpha Family Trust acquired a new position in Archer-Daniels-Midland in the fourth quarter worth about $321,000. American Trust Investment Advisors LLC raised its position in Archer-Daniels-Midland by 5.1% in the fourth quarter. American Trust Investment Advisors LLC now owns 63,182 shares of the company's stock worth $3,192,000 after purchasing an additional 3,075 shares in the last quarter. Aptus Capital Advisors LLC raised its position in Archer-Daniels-Midland by 23.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 4,173 shares of the company's stock worth $211,000 after purchasing an additional 781 shares in the last quarter. Finally, DoubleLine ETF Adviser LP raised its position in Archer-Daniels-Midland by 2.3% in the fourth quarter. DoubleLine ETF Adviser LP now owns 27,149 shares of the company's stock worth $1,372,000 after purchasing an additional 619 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADM has been the subject of several recent research reports. Barclays dropped their price target on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, February 24th. Citigroup dropped their price target on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Stephens dropped their price objective on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Bank of America lowered shares of Archer-Daniels-Midland from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. Finally, BMO Capital Markets dropped 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. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Archer-Daniels-Midland presently has an average rating of "Hold" and a consensus price target of $52.50.

Archer-Daniels-Midland Price Performance

Shares of ADM traded down $0.58 during mid-day trading on Thursday, hitting $48.83. 4,177,580 shares of the company traded hands, compared to its average volume of 3,587,523. Archer-Daniels-Midland Company has a one year low of $40.98 and a one year high of $66.08. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $47.14 and a 200 day moving average of $49.46. The stock has a market capitalization of $23.46 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.54 and a beta of 0.69.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business had revenue of $20.18 billion for the quarter, compared to analysts' expectations of $22.05 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. Archer-Daniels-Midland's revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.04 dividend on an annualized basis and a yield of 4.18%. Archer-Daniels-Midland's payout ratio is presently 72.86%.

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.