American Century Companies Inc. Decreases Position in Archer Daniels Midland Company $ADM

Key Points

• American Century Companies Inc. reduced its stake in Archer Daniels Midland Company (ADM) by 9.8%, now holding 399,511 shares valued at approximately $19.18 million.
• Archer Daniels Midland announced a quarterly dividend of $0.51 per share, with an annualized yield of 3.2%, payable on September 10th, 2023.
• Despite a 4.9% year-over-year decline in revenue, ADM reported better-than-expected earnings per share of $0.93 for the recent quarter, surpassing estimates by $0.05.

American Century Companies Inc. trimmed its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 399,511 shares of the company's stock after selling 43,602 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of Archer Daniels Midland worth $19,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADM. Charles Schwab Investment Management Inc. increased its holdings in shares of Archer Daniels Midland by 350.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,455,324 shares of the company's stock worth $838,030,000 after buying an additional 13,579,379 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Archer Daniels Midland by 2.6% in the 4th quarter. Northern Trust Corp now owns 11,035,011 shares of the company's stock worth $557,489,000 after buying an additional 275,792 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Archer Daniels Midland by 8.5% in the 1st quarter. Invesco Ltd. now owns 7,753,585 shares of the company's stock worth $372,250,000 after buying an additional 607,767 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Archer Daniels Midland by 20.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,212,681 shares of the company's stock worth $212,825,000 after buying an additional 727,675 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Archer Daniels Midland by 18.0% in the 4th quarter. ProShare Advisors LLC now owns 3,410,560 shares of the company's stock worth $172,301,000 after buying an additional 520,615 shares during the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer Daniels Midland Stock Down 0.2%

NYSE ADM traded down $0.12 during trading hours on Wednesday, reaching $62.71. 2,896,077 shares of the company's stock traded hands, compared to its average volume of 3,974,642. Archer Daniels Midland Company has a 52-week low of $40.98 and a 52-week high of $64.38. The firm has a market cap of $30.13 billion, a PE ratio of 27.62, a PEG ratio of 3.42 and a beta of 0.68. The firm has a 50-day simple moving average of $56.04 and a 200 day simple moving average of $50.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 0.90.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.05. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. The company had revenue of $21.17 billion during the quarter, compared to analysts' expectations of $21.56 billion. During the same period last year, the company posted $1.03 EPS. Archer Daniels Midland's revenue was down 4.9% on a year-over-year basis. Archer Daniels Midland has set its FY 2025 guidance at 4.000-4.000 EPS. Sell-side analysts anticipate that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.04 annualized dividend and a yield of 3.3%. Archer Daniels Midland's payout ratio is 89.87%.

Analysts Set New Price Targets

ADM has been the topic of several recent research reports. Barclays raised shares of Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $50.00 to $61.00 in a report on Wednesday, August 6th. Bank of America cut shares of Archer Daniels Midland from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $47.00 to $45.00 in a research report on Thursday, May 8th. JPMorgan Chase & Co. began coverage on shares of Archer Daniels Midland in a research report on Wednesday, August 20th. They set a "neutral" rating and a $61.00 price target for the company. UBS Group reaffirmed a "buy" rating and issued a $70.00 target price (up from $60.00) on shares of Archer Daniels Midland in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of Archer Daniels Midland from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $55.50.

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.