SSgA Funds Management, Inc. has recently announced that it has increased stake in Archer Daniels Midland Co. (NYSE:ADM) by 0.91%. After grabbing 31.65 million shares, the institutional investor is now in possession of 0.28 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 5.93% having worth around $2.33 billion. Moreover, Northern Trust Investments, Inc. increased its share by 0.21 million to have a control over 12.67 million shares. And Geode Capital Management LLC raised its holdings to 24052.0 shares by acquiring 9.98 million shares or 1.87% of the stake.
Archer Daniels Midland Co. (ADM) concluded trading on 01/04/24 at a closing price of $71.75, with 3.44 million shares of worth about $246.6 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.87% during that period and on Thursday the price saw a loss of about -1.89%. Currently the company’s common shares owned by public are about 547.00M shares, out of which, 529.33M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the ADM stock and their offered price forecasts bring an average price target of $91.18. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $116.00 and could fall to a lowest price of $75.00. The stock’s current price level is 21.31% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.33% for the stock. However, touching the estimated high of $116.00 would mean a gain of 38.15% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 29 times over the past 12 months. They bought 1,271,183 shares in 18 of the transactions. In 11 selling transactions, insiders dumped 793,974 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund are the top 3 mutual funds which are holding stakes in Archer Daniels Midland Co. Vanguard Total Stock Market ETF is currently holding 16.82 million shares of worth totaling $1.24 billion. The company recently came buying 41250.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. Vanguard 500 Index Fund bought 64627.0 shares, after which its hold over company’s outstanding shares expand to 2.43%, leaving 12.95 million shares with the mutual fund that have a worth of about $954.68 million. Washington Mutual Investors Fund, after selling 10.98 million shares, have now control over 2.06% of the stake in the company. It holds -6.74 million shares of worth $809.53 million.
Archer Daniels Midland Co. (NYSE: ADM) started trading at $73.15, above $0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 73.25, or with a loss of -1.89%. Stock saw a price change of -0.58% in past 5 days and over the past one month there was a price change of -3.86%. Year-to-date (YTD), ADM shares are showing a performance of -0.65% which decreased to -19.97% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $69.31 but also hit the highest price of $89.41 during that period. The average intraday trading volume for Archer Daniels Midland Co. shares is 3.13 million. The stock is currently trading -2.13% below its 20-day simple moving average (SMA20), while that difference is down -1.74% for SMA50 and it goes to -6.40% lower than SMA200.
SSgA Funds Management, Inc. acquired 31.65 million shares of Archer Daniels Midland Co. having value of about $2.33 billion. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.28 million shares in the company valued at close to $20414597.0, or have control over 0.91% stake in the company. Archer Daniels Midland Co. (NYSE: ADM) currently have 547.00M outstanding shares and institutions hold larger chunk of about 80.85% of that. Holding of mutual funds in the company is about 38.06% while other institutional holders and individual stake holders have control over 43.19% and 12.38% of the stake respectively.
The stock has a current market capitalization of $38.27B and its 3Y-monthly beta is at 0.77. PE ratio of stock for trailing 12 months is 9.99, while it has posted earnings per share of $7.18 in the same period. It has Quick Ratio of 1.07 while making debt-to-equity ratio of 0.38. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ADM, volatility over the week remained 1.56% while standing at 1.96% over the month.
Analysts are in expectations that Archer Daniels Midland Co. (ADM) stock would likely to be making an EPS of $1.66 in the current quarter, while forecast for next quarter EPS is $1.69 and it is $6.5 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.57 which is $1.79 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.93 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -7.22% while it is estimated to decrease by -10.47% in next year. EPS is likely to shrink at an annualized rate of -5.30% for next 5-years, compared to annual growth of 22.55% made by the stock over the past 5-years.
Analysts at 17 brokerage firms have issued recommendations for the Archer Daniels Midland Co. (ADM)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.06. Out of those 17 Wall Street analysts, 7 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on December 18, 2023 offering a Market perform rating for the stock and assigned a target price range of between $90 and $80 to it.
