Sara Bay Financial Sells 1,143 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Sara Bay Financial trimmed its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM – Get Rating) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,615 shares of the company’s stock after selling 1,143 shares during the quarter. Archer-Daniels-Midland accounts for about 0.4% of Sara Bay Financial’s portfolio, making the stock its 23rd largest position. Sara Bay Financial’s holdings in Archer-Daniels-Midland were worth $1,048,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADM. Curi Wealth Management LLC purchased a new position in Archer-Daniels-Midland during the 4th quarter worth $27,000. Bivin & Associates Inc. purchased a new position in Archer-Daniels-Midland during the 4th quarter worth $28,000. Massmutual Trust Co. FSB ADV grew its stake in Archer-Daniels-Midland by 84.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 316 shares of the company’s stock valued at $29,000 after purchasing an additional 145 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Archer-Daniels-Midland during the 4th quarter valued at about $32,000. Finally, Kozak & Associates Inc. purchased a new stake in Archer-Daniels-Midland during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 75.38% of the company’s stock.

In related news, CFO Vikram Luthar sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $89.59, for a total value of $671,925.00. Following the completion of the transaction, the chief financial officer now owns 72,302 shares of the company’s stock, valued at approximately $6,477,536.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Several analysts have weighed in on ADM shares. The Goldman Sachs Group boosted their price target on Archer-Daniels-Midland from $79.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, March 16th. StockNews.com downgraded Archer-Daniels-Midland from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 26th. Credit Suisse Group boosted their price target on Archer-Daniels-Midland from $80.00 to $92.00 in a research note on Wednesday, April 27th. Robert W. Baird boosted their price target on Archer-Daniels-Midland from $73.00 to $108.00 in a research note on Wednesday, April 27th. Finally, Barclays boosted their price objective on Archer-Daniels-Midland from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.25.

NYSE ADM opened at $78.13 on Wednesday. The stock has a market capitalization of $43.96 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.91 and a beta of 0.75. Archer-Daniels-Midland Company has a twelve month low of $56.91 and a twelve month high of $98.88. The company has a current ratio of 1.42, a quick ratio of 0.81 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $88.16 and a 200 day moving average of $80.53.

Archer-Daniels-Midland (NYSE:ADM – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.55. The company had revenue of $23.65 billion during the quarter, compared to analysts’ expectations of $20.61 billion. Archer-Daniels-Midland had a return on equity of 14.40% and a net margin of 3.42%. Archer-Daniels-Midland’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 EPS. Equities analysts predict that Archer-Daniels-Midland Company will post 6.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Wednesday, May 18th were issued a $0.40 dividend. The ex-dividend date was Tuesday, May 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. Archer-Daniels-Midland’s payout ratio is 29.47%.

Archer-Daniels-Midland Company Profile (Get Rating)

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. The company operates through three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.

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