BofA Is Recommending These 5 Stocks

In this article, we discuss 5 stocks that BofA is recommending. If you want to see more stocks in this selection, click BofA Is Recommending These 15 Stocks. 

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

Number of Hedge Fund Holders: 42

Archer-Daniels-Midland Company (NYSE:ADM) is an American producer of agricultural commodities and ingredients. The company operates through three segments – Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. On August 3, Archer-Daniels-Midland Company (NYSE:ADM) declared a quarterly dividend of $0.40 per share. The dividend will be distributed on September 7 to shareholders of the company as of August 17. Archer-Daniels-Midland Company (NYSE:ADM) is one of the top stocks in BofA’s September recommendations. 

On August 12, Wolfe Research analyst Sam Margolin initiated coverage of Archer-Daniels-Midland Company (NYSE:ADM) with an Outperform rating and a $117 price target. The stock offers “highly competitive dividend growth” through its Nutrition segment, the analyst told investors in a research note. 

According to Insider Monkey’s data, 42 hedge funds were long Archer-Daniels-Midland Company (NYSE:ADM) at the end of Q2 2022, and Tom Gayner’s Markel Gayner Asset Management held the leading stake in the company, with 1.46 million shares worth $113.5 million. 

Here is what Diamond Hill Long-Short Fund has to say about Archer-Daniels-Midland Company (NYSE:ADM) in its Q1 2022 investor letter:

“ADM is a leading agricultural processor that also operates a global nutrition business focused on the development of ingredients and flavors for food and beverages, supplements and more. The company’s recent operating results have benefited (unfortunately) from the war in Ukraine as grain prices and agricultural markets globally experienced strong price increases. ADM is positioned well to benefit from the volatility due to its stable North American agricultural base.”