KBC Group NV has reduced its stake in Archer-Daniels-Midland Company (ADM) by 48.1% in the fourth quarter, according to recent filings with the Securities and Exchange Commission. Following the sale of 283,992 shares, KBC now holds 306,822 shares, representing approximately 0.06% of ADM, valued at $15.5 million.
Other institutional investors have also adjusted their positions in ADM. Harbor Capital Advisors Inc. acquired a new stake valued at about $25,000, while Ashton Thomas Securities LLC and Peterson Financial Group Inc. made similar investments during the third quarter. Raleigh Capital Management Inc. increased its position by 179.4%, owning 556 shares worth $28,000 after acquiring 357 additional shares. ST Germain D J Co. Inc. raised its stake by 724.6%, with 569 shares valued at $29,000 after purchasing 500 shares.
Analysts have issued mixed ratings for ADM. Stephens initiated coverage with an 'equal weight' rating and a $55 price target. Citigroup raised its target from $51 to $55, maintaining a 'neutral' rating. Conversely, Barclays lowered its price objective from $56 to $50, marking an 'underweight' rating, while Bank of America dropped its rating from 'neutral' to 'underperform' with a target cut from $63 to $54.
The stock opened at $50.57 today, with a market capitalization of $24.2 billion. ADM has a debt-to-equity ratio of 0.34 and a PE ratio of 14.45. The company recently declared a quarterly dividend of $0.50 per share, representing an annual yield of 3.95%. Additionally, ADM's board has approved a buyback plan for 100 million shares, signaling confidence in the stock's valuation.
Archer-Daniels-Midland operates in the procurement, transportation, storage, processing, and merchandising of agricultural commodities across various countries, including the U.S., Switzerland, and Brazil.