Sara Bay Financial Sells 821 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Sara Bay Financial decreased its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,243 shares of the company’s stock after selling 821 shares during the quarter. Sara Bay Financial’s holdings in Archer-Daniels-Midland were worth $377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its position in shares of Archer-Daniels-Midland by 83.7% during the first quarter. Banque Cantonale Vaudoise now owns 29,914 shares of the company’s stock worth $1,879,000 after acquiring an additional 13,626 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Archer-Daniels-Midland by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,746 shares of the company’s stock valued at $271,000 after purchasing an additional 462 shares during the last quarter. Madison Asset Management LLC increased its position in shares of Archer-Daniels-Midland by 18.6% during the fourth quarter. Madison Asset Management LLC now owns 383,941 shares of the company’s stock worth $27,728,000 after buying an additional 60,313 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Archer-Daniels-Midland in the fourth quarter valued at $1,942,000. Finally, Victory Capital Management Inc. boosted its position in Archer-Daniels-Midland by 50.3% during the fourth quarter. Victory Capital Management Inc. now owns 414,643 shares of the company’s stock valued at $29,946,000 after acquiring an additional 138,806 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup decreased their price target on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $64.62.

Insiders Place Their Bets

In other news, insider Fruit Molly L. Strader sold 6,904 shares of Archer-Daniels-Midland stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total value of $419,279.92. Following the completion of the transaction, the insider now directly owns 8,555 shares in the company, valued at $519,545.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Shares of ADM traded up $0.59 during mid-day trading on Monday, hitting $59.68. The stock had a trading volume of 2,189,592 shares, compared to its average volume of 4,832,685. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $83.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The business has a fifty day moving average price of $61.40 and a 200-day moving average price of $59.85. The firm has a market cap of $29.51 billion, a P/E ratio of 10.37 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.19). The business had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. Archer-Daniels-Midland’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. On average, equities research analysts expect that Archer-Daniels-Midland Company will post 5.41 EPS for the current year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.35%. Archer-Daniels-Midland’s dividend payout ratio is 35.09%.

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.