Jennison Associates LLC cut its holdings in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,847,504 shares of the company's stock after selling 406,788 shares during the quarter. Jennison Associates LLC owned about 5.62% of Adecoagro worth $64,732,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its position in Adecoagro by 410.7% during the first quarter. Boston Partners now owns 679,537 shares of the company's stock worth $7,489,000 after buying an additional 546,465 shares during the period. Ping Capital Management Inc. purchased a new position in Adecoagro during the second quarter worth about $1,099,000. Herr Investment Group LLC lifted its position in Adecoagro by 30.3% during the second quarter. Herr Investment Group LLC now owns 2,649,555 shares of the company's stock worth $25,780,000 after buying an additional 616,345 shares during the period. Discovery Capital Management LLC CT lifted its position in Adecoagro by 39.1% during the second quarter. Discovery Capital Management LLC CT now owns 2,376,614 shares of the company's stock worth $23,124,000 after buying an additional 667,878 shares during the period. Finally, Helikon Investments Ltd lifted its position in Adecoagro by 169.2% during the third quarter. Helikon Investments Ltd now owns 6,941,857 shares of the company's stock worth $76,846,000 after buying an additional 4,363,628 shares during the period. 45.25% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AGRO has been the subject of several research analyst reports. Morgan Stanley lowered Adecoagro from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $14.50 to $12.50 in a research note on Tuesday, September 17th. StockNews.com downgraded Adecoagro from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. UBS Group began coverage on Adecoagro in a research note on Monday, October 14th. They set a "neutral" rating and a $12.00 target price on the stock. Finally, Bank of America cut their target price on Adecoagro from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $12.63.
Check Out Our Latest Report on Adecoagro
Adecoagro Stock Performance
AGRO traded up $0.05 on Thursday, hitting $11.07. 388,580 shares of the stock traded hands, compared to its average volume of 722,977. Adecoagro S.A. has a 52 week low of $8.72 and a 52 week high of $12.51. The firm has a market capitalization of $1.15 billion, a PE ratio of 7.38, a P/E/G ratio of 1.24 and a beta of 1.08. The business has a fifty day moving average price of $11.35 and a two-hundred day moving average price of $10.53. The company has a current ratio of 2.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48.
Adecoagro Increases Dividend
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.174 per share. This is a boost from Adecoagro's previous Semi-Annual dividend of $0.16. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a dividend yield of 2.9%. Adecoagro's payout ratio is presently 23.33%.
Adecoagro Profile
(
Free Report)
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.
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