Archer-Daniels-Midland Company (NYSE:ADM) Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 992,668 shares of the company’s stock after selling 36,345 shares during the period. California Public Employees Retirement System owned about 0.19% of Archer-Daniels-Midland worth $71,690,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Orion Capital Management LLC purchased a new position in Archer-Daniels-Midland in the 3rd quarter worth about $28,000. Tompkins Financial Corp acquired a new stake in shares of Archer-Daniels-Midland during the third quarter valued at approximately $28,000. Legacy Financial Group LLC purchased a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $30,000. Operose Advisors LLC purchased a new position in Archer-Daniels-Midland during the 3rd quarter worth approximately $30,000. Finally, Strengthening Families & Communities LLC boosted its position in shares of Archer-Daniels-Midland by 37.3% in the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock worth $48,000 after buying an additional 174 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADM has been the topic of several research analyst reports. StockNews.com cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. The Goldman Sachs Group lowered shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $67.00 in a research note on Monday, January 22nd. Citigroup lifted their target price on shares of Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group dropped their price target on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, March 13th. Finally, Roth Capital downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Price Performance

NYSE ADM opened at $61.57 on Thursday. The company has a market cap of $30.89 billion, a P/E ratio of 9.62 and a beta of 0.77. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $87.30. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $58.81 and a 200 day simple moving average of $65.37.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.07). Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The business had revenue of $22.98 billion during the quarter, compared to analyst estimates of $23.79 billion. During the same period in the prior year, the business posted $1.93 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Archer-Daniels-Midland Company will post 5.48 EPS for the current year.

Archer-Daniels-Midland declared that its Board of Directors has approved a stock buyback program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Archer-Daniels-Midland

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.