Amundi Boosts Stake in Adecoagro S.A. $AGRO

Key Points

• Amundi significantly increased its Adecoagro stake by 718.5% in the second quarter, purchasing 686,835 additional shares to own 782,432 shares, or approximately 0.55% of the company.
• Adecoagro reported weaker-than-expected quarterly results, with EPS of $0.13 versus the $0.54 consensus estimate and revenue of $538.5 million versus $602.01 million expected.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $11.62, while shares recently traded at $11.76 after declining 4.6%.

Amundi lifted its stake in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 718.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 782,432 shares of the company's stock after buying an additional 686,835 shares during the period. Amundi owned approximately 0.55% of Adecoagro worth $7,472,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Orion Porfolio Solutions LLC acquired a new position in shares of Adecoagro in the fourth quarter valued at about $88,000. Van ECK Associates Corp raised its stake in shares of Adecoagro by 57.9% in the second quarter. Van ECK Associates Corp now owns 12,882 shares of the company's stock worth $123,000 after purchasing an additional 4,723 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Adecoagro during the fourth quarter worth about $123,000. Hsbc Holdings PLC acquired a new stake in shares of Adecoagro during the second quarter worth about $162,000. Finally, State of Wyoming boosted its position in Adecoagro by 44.9% in the second quarter. State of Wyoming now owns 17,203 shares of the company's stock valued at $157,000 after buying an additional 5,334 shares during the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

Adecoagro Trading Down 4.6%

Shares of AGRO stock opened at $11.76 on Friday. Adecoagro S.A. has a 1-year low of $6.89 and a 1-year high of $15.89. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 35.63 and a beta of -0.01. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.73 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $10.47 and a 200-day simple moving average of $11.55.

Adecoagro (NYSE:AGRO - Get Free Report) last posted its quarterly earnings data on Saturday, August 8th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.41). Adecoagro had a negative return on equity of 0.38% and a net margin of 3.03%.The company had revenue of $538.50 million for the quarter, compared to analyst estimates of $602.01 million. On average, equities research analysts expect that Adecoagro S.A. will post 1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on AGRO. Weiss Ratings cut shares of Adecoagro from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 14th. UBS Group dropped their target price on Adecoagro from $15.20 to $13.20 and set a "buy" rating on the stock in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Adecoagro from $7.00 to $10.50 and gave the company an "underweight" rating in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Adecoagro has a consensus rating of "Reduce" and an average price target of $11.62.

About Adecoagro

Adecoagro SA is an agribusiness company that produces agricultural, dairy and renewable-energy products in South America. Its operations are primarily located in Argentina, Brazil and Uruguay, where it manages farmland and related processing facilities.

The company cultivates crops such as soybeans, corn, wheat, rice, peanuts and cotton. Adecoagro also operates dairy businesses and produces sugar, ethanol and electricity from sugarcane, with cogeneration facilities that use biomass to generate renewable power.

Founded in 2002, Adecoagro has developed an integrated model that combines farming, food processing and renewable-energy production.

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