Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in Archer-Daniels-Midland Company (NYSE:ADM) by 21.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,766 shares of the company’s stock after selling 13,239 shares during the period. Mackenzie Financial Corp’s holdings in Archer-Daniels-Midland were worth $2,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. MBB Public Markets I LLC acquired a new position in shares of Archer-Daniels-Midland in the 2nd quarter worth approximately $2,432,000. Daymark Wealth Partners LLC lifted its stake in Archer-Daniels-Midland by 6.0% during the second quarter. Daymark Wealth Partners LLC now owns 14,571 shares of the company’s stock worth $881,000 after purchasing an additional 825 shares during the last quarter. Employees Retirement System of Texas boosted its holdings in Archer-Daniels-Midland by 38.8% in the second quarter. Employees Retirement System of Texas now owns 40,520 shares of the company’s stock worth $2,449,000 after purchasing an additional 11,330 shares during the period. APG Asset Management N.V. increased its stake in Archer-Daniels-Midland by 226.1% during the second quarter. APG Asset Management N.V. now owns 73,270 shares of the company’s stock valued at $4,133,000 after purchasing an additional 50,800 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Archer-Daniels-Midland by 73.6% during the second quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company’s stock worth $170,960,000 after purchasing an additional 1,199,992 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 3,683 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of Archer-Daniels-Midland stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $61.00, for a total value of $2,773,731.00. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Juan R. Luciano sold 3,683 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,177,810. The disclosure for this sale can be found here. Insiders sold a total of 219,348 shares of company stock worth $13,296,833 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, UBS Group raised their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat, Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus price target of $65.62.

Archer-Daniels-Midland Stock Performance

Shares of ADM opened at $58.79 on Thursday. The firm has a market capitalization of $29.07 billion, a PE ratio of 10.31 and a beta of 0.72. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $60.06 and a 200 day moving average price of $61.16. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $77.35.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The company had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.12 billion. During the same quarter last year, the business earned $1.89 earnings per share. The company’s revenue was down 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Archer-Daniels-Midland Company will post 5.33 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

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.