Pacer Advisors Inc. Sells 10,348,833 Shares of Archer Daniels Midland Company (NYSE:ADM)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Archer Daniels Midland Company by 99.7%, holding only 33,806 shares after selling over 10 million shares in the first quarter.
• Analysts have mixed views on ADM, with Citigroup lowering its price target to $49 while UBS upgraded it to $60, resulting in a consensus target price of $52.25.
• ADM reported a 7.7% decrease in year-over-year revenue, reporting $20.18 billion for the quarter against expectations of $22.05 billion.

Pacer Advisors Inc. cut its holdings in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 99.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,806 shares of the company's stock after selling 10,348,833 shares during the period. Pacer Advisors Inc.'s holdings in Archer Daniels Midland were worth $1,623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADM. S.A. Mason LLC purchased a new position in Archer Daniels Midland during the first quarter worth approximately $25,000. ORG Partners LLC raised its position in shares of Archer Daniels Midland by 297.2% in the 1st quarter. ORG Partners LLC now owns 699 shares of the company's stock worth $34,000 after buying an additional 523 shares during the period. NBC Securities Inc. acquired a new position in Archer Daniels Midland in the first quarter valued at $37,000. Capital Advisors Ltd. LLC grew its position in Archer Daniels Midland by 43.4% during the first quarter. Capital Advisors Ltd. LLC now owns 783 shares of the company's stock valued at $38,000 after acquiring an additional 237 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in Archer Daniels Midland by 109.8% during the first quarter. Golden State Wealth Management LLC now owns 839 shares of the company's stock worth $40,000 after acquiring an additional 439 shares during the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer Daniels Midland Stock Performance

Shares of ADM stock traded down $1.04 during trading hours on Thursday, reaching $54.16. 3,986,254 shares of the company's stock were exchanged, compared to its average volume of 3,998,633. Archer Daniels Midland Company has a fifty-two week low of $40.98 and a fifty-two week high of $62.67. The stock has a market capitalization of $26.02 billion, a P/E ratio of 19.34, a P/E/G ratio of 3.03 and a beta of 0.69. The business has a fifty day moving average price of $52.25 and a 200-day moving average price of $49.36. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $20.18 billion for the quarter, compared to the consensus estimate of $22.05 billion. Archer Daniels Midland had a return on equity of 8.71% and a net margin of 1.63%. Archer Daniels Midland's revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. Analysts predict that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 21st were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $2.04 annualized dividend and a yield of 3.8%. Archer Daniels Midland's dividend payout ratio is 72.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group upgraded Archer Daniels Midland from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $60.00 in a report on Monday, May 19th. Citigroup dropped their target price 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. Bank of America downgraded shares of Archer Daniels Midland from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $47.00 to $45.00 in a research report on Thursday, May 8th. Finally, Barclays increased their target price on shares of Archer Daniels Midland from $48.00 to $50.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $52.25.

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.