683 Capital Management LLC boosted its holdings in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,000 shares of the company's stock after acquiring an additional 35,000 shares during the period. 683 Capital Management LLC owned 0.58% of Adecoagro worth $5,658,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. B. Riley Wealth Advisors Inc. raised its position in shares of Adecoagro by 1.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 149,450 shares of the company's stock worth $1,657,000 after purchasing an additional 1,900 shares during the last quarter. Rockingstone Advisors LLC bought a new position in shares of Adecoagro in the fourth quarter worth approximately $170,000. Blue Trust Inc. grew its holdings in shares of Adecoagro by 87.2% during the fourth quarter. Blue Trust Inc. now owns 13,709 shares of the company's stock valued at $129,000 after buying an additional 6,387 shares during the last quarter. Helikon Investments Ltd increased its position in shares of Adecoagro by 0.5% during the fourth quarter. Helikon Investments Ltd now owns 6,976,857 shares of the company's stock valued at $65,792,000 after acquiring an additional 35,000 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Adecoagro in the 4th quarter worth approximately $70,000. Institutional investors own 45.25% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on AGRO. Morgan Stanley lowered Adecoagro from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $13.00 to $10.00 in a report on Monday, April 28th. UBS Group reduced their price objective on Adecoagro from $10.50 to $9.90 and set a "neutral" rating for the company in a report on Tuesday, April 29th. StockNews.com cut shares of Adecoagro from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Bank of America lowered shares of Adecoagro from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $12.00 to $10.80 in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat, Adecoagro currently has an average rating of "Hold" and a consensus price target of $10.55.
Check Out Our Latest Report on AGRO
Adecoagro Stock Performance
Shares of AGRO traded up $0.16 on Tuesday, reaching $8.66. The company's stock had a trading volume of 703,365 shares, compared to its average volume of 841,022. The stock's 50 day simple moving average is $10.77 and its two-hundred day simple moving average is $10.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.40 and a quick ratio of 1.09. The stock has a market capitalization of $865.94 million, a P/E ratio of 5.77, a PEG ratio of 1.43 and a beta of 0.74. Adecoagro S.A. has a 12-month low of $8.44 and a 12-month high of $12.08.
Adecoagro Increases Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be given 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 dividend yield of 3%. Adecoagro's payout ratio is presently 39.33%.
About Adecoagro
(
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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