Banco Santander S.A. Has $20.94 Million Stock Position in Adecoagro S.A. (NYSE:AGRO)

Key Points

• Banco Santander S.A. has reduced its stake in Adecoagro S.A. by 76%, selling 5,942,000 shares and retaining 1,875,000 shares worth approximately $20.9 million.
• Several institutional investors have significantly increased their stakes in Adecoagro, with MIRAE ASSET GLOBAL ETFS HOLDINGS growing its position by 68.3% in the last quarter.
• Adecoagro's stock has experienced a 3.9% decline recently, with analysts issuing downgrades and reducing target prices, reflecting a more bearish outlook.

Banco Santander S.A. decreased its position in Adecoagro S.A. (NYSE:AGRO - Free Report) by 76.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,875,000 shares of the company's stock after selling 5,942,000 shares during the quarter. Banco Santander S.A. owned approximately 1.88% of Adecoagro worth $20,944,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. NBC Securities Inc. increased its position in Adecoagro by 143,775.0% during the first quarter. NBC Securities Inc. now owns 5,755 shares of the company's stock worth $64,000 after acquiring an additional 5,751 shares during the period. OLD Mission Capital LLC bought a new position in Adecoagro during the fourth quarter worth $108,000. Dynamic Technology Lab Private Ltd acquired a new stake in Adecoagro during the fourth quarter worth $126,000. Lazard Asset Management LLC boosted its stake in Adecoagro by 26.3% during the fourth quarter. Lazard Asset Management LLC now owns 13,406 shares of the company's stock worth $126,000 after buying an additional 2,794 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Adecoagro during the fourth quarter worth $153,000. Institutional investors own 45.25% of the company's stock.

Adecoagro Price Performance

Shares of NYSE:AGRO traded down $0.12 on Wednesday, hitting $9.01. The stock had a trading volume of 123,490 shares, compared to its average volume of 733,832. Adecoagro S.A. has a twelve month low of $8.44 and a twelve month high of $12.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.04 and a current ratio of 1.98. The firm's 50 day moving average price is $9.29 and its 200-day moving average price is $9.90. The company has a market capitalization of $900.41 million, a price-to-earnings ratio of 14.52 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AGRO shares. UBS Group decreased their price target on shares of Adecoagro from $10.50 to $9.90 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley decreased their price target on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating on the stock in a research note on Wednesday, July 16th. Finally, Bank of America downgraded shares of Adecoagro from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $12.00 to $10.80 in a research note on Friday, April 25th.

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.