5 Food Stocks to Buy Amid Upcoming Global Crisis

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

Number of Hedge Fund Holders: 42

Archer-Daniels-Midland Company (NYSE:ADM) was founded in 1902 and is headquartered in Chicago, Illinois. The company manufactures and distributes agricultural commodities, products, and ingredients worldwide, operating through Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments. Archer-Daniels-Midland Company (NYSE:ADM) posted above consensus earnings and revenue in Q1 2022. 

Baird analyst Ben Kallo raised the price target on Archer-Daniels-Midland Company (NYSE:ADM) on April 27 to $108 from $73 and maintained an Outperform rating on the shares. The analyst observed that Q1 results were very good and the robust performance supported its 2025 target earnings per share of $6.00 to $7.00. He said the company is benefiting from dislocation across the agriculture supply chain, while working through multiple operational obstacles.

According to the hedge funds tracked by Insider Monkey, 42 funds were bullish on Archer-Daniels-Midland Company (NYSE:ADM) at the end of Q1 2022, with combined stakes valued at $625.68 million. Ric Dillon’s Diamond Hill Capital is the leading shareholder of the company, with 4.75 million shares worth $429.15 million.