Kentucky Retirement Systems Insurance Trust Fund Sells 9,435 Shares of Archer Daniels Midland Company (NYSE:ADM)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 40.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,866 shares of the company's stock after selling 9,435 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Archer Daniels Midland were worth $666,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Archer Daniels Midland in the 4th quarter valued at $333,521,000. Wellington Management Group LLP increased its stake in Archer Daniels Midland by 8.9% in the fourth quarter. Wellington Management Group LLP now owns 21,152,539 shares of the company's stock valued at $1,068,626,000 after purchasing an additional 1,722,428 shares in the last quarter. Invesco Ltd. increased its stake in Archer Daniels Midland by 24.8% in the fourth quarter. Invesco Ltd. now owns 7,145,818 shares of the company's stock valued at $361,007,000 after purchasing an additional 1,420,625 shares in the last quarter. Amundi raised its holdings in shares of Archer Daniels Midland by 56.7% during the fourth quarter. Amundi now owns 2,473,393 shares of the company's stock valued at $123,340,000 after purchasing an additional 894,562 shares during the period. Finally, Voloridge Investment Management LLC boosted its position in shares of Archer Daniels Midland by 56.8% during the 4th quarter. Voloridge Investment Management LLC now owns 2,328,942 shares of the company's stock worth $117,658,000 after purchasing an additional 843,662 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADM shares. Bank of America cut Archer Daniels Midland from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. Citigroup dropped their price objective on shares of Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group raised shares of 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 research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Archer Daniels Midland has an average rating of "Hold" and an average price target of $52.00.

Archer Daniels Midland Price Performance

Shares of Archer Daniels Midland stock traded down $0.51 on Friday, hitting $52.66. 163,782 shares of the company traded hands, compared to its average volume of 3,513,402. Archer Daniels Midland Company has a 12-month low of $40.98 and a 12-month high of $66.08. The firm's 50-day simple moving average is $49.38 and its 200 day simple moving average is $48.73. The company has a market cap of $25.30 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.91 and a beta of 0.67. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $20.18 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. Analysts expect that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, May 21st. Archer Daniels Midland's dividend payout ratio is presently 72.86%.

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.