Archer-Daniels-Midland (NYSE:ADM) Given New $66.00 Price Target at JPMorgan Chase & Co.

Archer-Daniels-Midland (NYSE:ADM) had its target price raised by JPMorgan Chase & Co. from $65.00 to $66.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Citigroup cut their target price on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a neutral rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $64.62.

Archer-Daniels-Midland Price Performance

Archer-Daniels-Midland stock opened at $58.91 on Wednesday. The company’s 50 day moving average is $61.95 and its two-hundred day moving average is $59.76. The firm has a market cap of $29.13 billion, a PE ratio of 10.34 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland has a 52-week low of $50.72 and a 52-week high of $87.29.

Archer-Daniels-Midland (NYSE:ADM) last released its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $23.12 billion. During the same quarter last year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, research analysts expect that Archer-Daniels-Midland will post 5.41 EPS for the current fiscal year.

Insider Activity

In related news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the transaction, the insider now owns 8,555 shares in the company, valued at approximately $519,545.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Archer-Daniels-Midland

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Archer-Daniels-Midland by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 67,826,217 shares of the company’s stock valued at $4,260,165,000 after buying an additional 7,320,289 shares during the period. Norges Bank purchased a new position in Archer-Daniels-Midland during the fourth quarter worth about $420,457,000. Jacobs Levy Equity Management Inc. lifted its position in Archer-Daniels-Midland by 141.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,991,324 shares of the company’s stock valued at $187,885,000 after purchasing an additional 1,753,077 shares during the period. Wellington Management Group LLP boosted its holdings in Archer-Daniels-Midland by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 15,325,806 shares of the company’s stock valued at $1,106,830,000 after purchasing an additional 1,532,284 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Archer-Daniels-Midland by 40.7% during the 1st quarter. ProShare Advisors LLC now owns 3,309,140 shares of the company’s stock worth $207,847,000 after purchasing an additional 957,270 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

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.