5 Recession-Proof Stocks to Buy and Hold

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

Number of Hedge Fund Holders: 41

Archer-Daniels-Midland Company (NYSE:ADM) is an American multinational food processing and commodities trading company that supplies corn syrup, livestock feed, ethanol, bioenergy, and other agricultural byproducts to food, beverage, industrial, and animal feed markets around the world. Archer-Daniels-Midland Company (NYSE:ADM) is positioned well to withstand recession since it offers essential products that are price inelastic. 

On February 23, Archer-Daniels-Midland Company (NYSE:ADM) priced its first sustainable bond, which will support the company’s ESG goals. The offering closed on February 28, and Archer-Daniels-Midland Company (NYSE:ADM) agreed to issue $750 million in aggregate principal amount of 2.9% notes due 2032. 

Barclays analyst Benjamin Theurer raised the price target on Archer-Daniels-Midland Company (NYSE:ADM) on March 4 to $88 from $80 and kept an Overweight rating on the shares. The analyst continues to see upside in Archer-Daniels-Midland Company (NYSE:ADM) shares, noting that the company is strategically positioned to benefit from short-term disruption and displays solid long-term fundamentals.

According to the fourth quarter database of Insider Monkey, 41 hedge funds were long Archer-Daniels-Midland Company (NYSE:ADM), up from 27 funds in the previous quarter. Amid the flurry of hedge fund activity around Archer-Daniels-Midland Company (NYSE:ADM), Ric Dillon’s Diamond Hill Capital was the leading shareholder of the company, with 5.70 million shares worth close to $386 million.