5 Best Sugar Stocks to Buy Now

4. Archer-Daniels-Midland Company (NYSE:ADM)

Number of Hedge Fund Holders: 42

Archer-Daniels-Midland Company (NYSE:ADM) is an American company that procures, transforms, and sells agricultural raw materials. The firm also supplies starch, syrup, glucose, and other food ingredients. It is headquartered in Chicago, Illinois.

Archer-Daniels-Midland Company (NYSE:ADM)’s shares have grown by a remarkable 49% over the course of the past 12 months, as sentiment around the stock turns bullish. This has been aided by stellar performance, which saw the firm beat its earnings estimate for its second fiscal quarter by a whopping 25% in July 2022. Archer-Daniels-Midland Company (NYSE:ADM) also pays a 40 cent dividend for a 1.75% yield.

Wolfe Research set a $117 share price target for Archer-Daniels-Midland Company (NYSE:ADM) in August 2022, citing confidence in the firm’s dividend growth. 42 out of the 895 hedge funds polled by Insider Monkey for their June quarter of 2022 holdings had bought the company’s shares.

Archer-Daniels-Midland Company (NYSE:ADM)’s largest shareholder is Tom Gayner’s Markel Gayner Asset Management which owns 1.4 million shares that are worth $113 million.