Discovery Capital Management LLC CT Sells 61,374 Shares of Adecoagro S.A. (NYSE:AGRO)

Discovery Capital Management LLC CT cut its stake in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,222,620 shares of the company's stock after selling 61,374 shares during the quarter. Discovery Capital Management LLC CT owned approximately 1.17% of Adecoagro worth $11,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in Adecoagro by 111.0% in the 3rd quarter. Citigroup Inc. now owns 500,113 shares of the company's stock worth $5,536,000 after buying an additional 263,125 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Adecoagro by 14,282.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 156,771 shares of the company's stock valued at $1,735,000 after purchasing an additional 155,681 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Adecoagro by 21.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company's stock worth $58,000 after purchasing an additional 933 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Adecoagro by 84.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 43,800 shares of the company's stock worth $485,000 after purchasing an additional 20,000 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Adecoagro during the 3rd quarter valued at approximately $37,000. 45.25% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Adecoagro from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Adecoagro has a consensus rating of "Hold" and an average target price of $12.63.

Adecoagro Price Performance

Shares of AGRO traded down $0.35 during mid-day trading on Friday, hitting $11.07. 2,071,858 shares of the stock were exchanged, compared to its average volume of 760,978. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40. The company has a market cap of $1.15 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 1.43 and a beta of 0.65. Adecoagro S.A. has a 52-week low of $8.72 and a 52-week high of $12.08. The firm has a 50-day moving average of $10.47 and a two-hundred day moving average of $10.64.

Adecoagro Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.175 per share. This is an increase from Adecoagro's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Friday, May 2nd. This represents a yield of 3%. Adecoagro's dividend payout ratio is presently 39.33%.

Adecoagro Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.