abrdn plc Sells 57,032 Shares of Adecoagro S.A. (NYSE:AGRO)

abrdn plc cut its position in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,169 shares of the company's stock after selling 57,032 shares during the period. abrdn plc owned approximately 0.22% of Adecoagro worth $2,610,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AGRO. Jennison Associates LLC boosted its position in shares of Adecoagro by 10.5% during the 1st quarter. Jennison Associates LLC now owns 5,932,720 shares of the company's stock valued at $65,379,000 after acquiring an additional 561,352 shares during the last quarter. Boston Partners raised its stake in Adecoagro by 410.7% during the first quarter. Boston Partners now owns 679,537 shares of the company's stock valued at $7,489,000 after purchasing an additional 546,465 shares in the last quarter. Ping Capital Management Inc. bought a new position in Adecoagro during the second quarter valued at $1,099,000. Herr Investment Group LLC grew its stake in shares of Adecoagro by 30.3% in the 2nd 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 in the last quarter. Finally, Discovery Capital Management LLC CT grew its stake in shares of Adecoagro by 39.1% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 45.25% of the company's stock.

Adecoagro Trading Up 1.3 %

Shares of AGRO traded up $0.15 during mid-day trading on Monday, reaching $11.46. 273,965 shares of the company's stock traded hands, compared to its average volume of 726,370. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 0.98. The stock's 50-day moving average is $11.30 and its two-hundred day moving average is $10.49. Adecoagro S.A. has a 12 month low of $8.72 and a 12 month high of $12.51. The stock has a market cap of $1.19 billion, a P/E ratio of 5.70, a P/E/G ratio of 1.11 and a beta of 1.07.

Adecoagro (NYSE:AGRO - Get Free Report) last released its earnings results on Monday, August 12th. The company reported $1.03 earnings per share for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. The business had revenue of $411.42 million for the quarter. Research analysts forecast that Adecoagro S.A. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on AGRO shares. Bank of America lowered their price target on shares of Adecoagro from $15.50 to $14.50 and set a "buy" rating for the company in a report on Monday, September 9th. StockNews.com cut Adecoagro from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. UBS Group assumed coverage on Adecoagro in a report on Monday, October 14th. They set a "neutral" rating and a $12.00 price target on the stock. Finally, Morgan Stanley downgraded Adecoagro from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $14.50 to $12.50 in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.63.

About Adecoagro

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.