5 Best Sugar Stocks to Buy Now

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

Number of Hedge Fund Holders: 41

Archer-Daniels-Midland Company (NYSE: ADM) tops our list of the best sugar stocks to buy now. It is an American food processing company and a global producer of renewable chemicals. The company’s products include granulated sugar, liquid sucrose, and invert sugar sourced from cane or beet. Along with this, Archer-Daniels-Midland Company (NYSE: ADM) also produces fruit-based sweeteners with a low glycaemic response.

In Q2 2021, Archer-Daniels-Midland Company (NYSE: ADM) posted an EPS of $1.33, beating the market consensus by $0.30. The revenue presented a 40.8% year-over-year growth at $22.9 billion. The sweetener segment accounted for $2.8 billion of the gross revenue. In May, Morgan Stanley lifted its price target on Archer-Daniels-Midland Company (NYSE: ADM) to $67, with an ‘Equal Weight’ rating on the shares. On August 4, the company’s board declared a quarterly dividend of $0.37 per share.

Of the 873 hedge funds tracked by Insider Monkey, 41 hedge funds have positions in Archer-Daniels-Midland Company (NYSE: ADM), up from 34 in the previous quarter. The total value of these stakes is $837.7 million.

You can also take a look at 15 Best Semiconductor Stocks to Buy Now and 10 Best Gun Stocks to Invest In

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