5 Wheat Stocks to Buy Now

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

Number of Hedge Fund Holders: 41

Archer-Daniels-Midland Company (NYSE:ADM) procures and distributes agricultural commodities, including corn, wheat, milo, oats, and barley, among others. The company’s stock has gained close to 40% in the last six months, and remains a winner in its category amid the Ukraine crisis and resultant demand for commodities.

Barclays analyst Benjamin Theuer raised the firm’s price target on Archer-Daniels-Midland Company (NYSE:ADM) to $88 from $80 on March 4 and kept an ‘Overweight’ rating on the shares. The analyst told investors that he sees upside in the shares, and that Archer-Daniels-Midland Company (NYSE:ADM) will benefit both from short-term disruptions and as well as its strong long-term fundamentals.

On January 25, Archer-Daniels-Midland Company (NYSE:ADM) reported its Q4 results, posting earnings per share of $1.50, above consensus by $0.13. The company’s revenue for the period amounted to $23.09 billion, up 28.43% year-over-year, and outperforming estimates by $2.86 billion. 

Of the 41 hedge funds in our database that were bullish on Archer-Daniels-Midland Company (NYSE:ADM) on December 31, Ric Dillon’s Diamond Hill Capital was the leading shareholder of the company, with 5.70 million shares worth approximately $386 million. 

You can also take a look at 10 Cheap Stocks Hedge Funds Are Talking About and 10 Stocks to Buy Before the Next Recession. 

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