Bank of America Corp DE Sells 93,886 Shares of Adecoagro S.A. (NYSE:AGRO)

Bank of America Corp DE cut its holdings in Adecoagro S.A. (NYSE:AGRO - Free Report) by 31.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,454 shares of the company's stock after selling 93,886 shares during the period. Bank of America Corp DE owned about 0.20% of Adecoagro worth $1,937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new stake in Adecoagro in the fourth quarter valued at approximately $108,000. Dynamic Technology Lab Private Ltd acquired a new stake in Adecoagro in the fourth quarter valued at approximately $126,000. Blue Trust Inc. boosted its stake in shares of Adecoagro by 87.2% during the 4th 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. Virtu Financial LLC purchased a new position in shares of Adecoagro during the 4th quarter valued at approximately $163,000. Finally, Quantbot Technologies LP purchased a new position in shares of Adecoagro during the 4th quarter valued at approximately $240,000. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

Adecoagro Stock Performance

NYSE AGRO traded down $0.11 during trading on Thursday, hitting $9.05. The company's stock had a trading volume of 687,801 shares, compared to its average volume of 841,024. The company has a quick ratio of 1.09, a current ratio of 2.40 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average price of $10.01 and a 200 day moving average price of $10.18. The firm has a market cap of $904.54 million, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.74. Adecoagro S.A. has a 52 week low of $8.45 and a 52 week high of $12.08.

Adecoagro Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $0.175 dividend. This is an increase from Adecoagro's previous semi-annual dividend of $0.17. This represents a yield of 3%. The ex-dividend date was Friday, May 2nd. Adecoagro's payout ratio is currently 56.45%.

Analyst Upgrades and Downgrades

AGRO has been the topic of a number of research analyst reports. Wall Street Zen lowered Adecoagro from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Morgan Stanley lowered Adecoagro from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $13.00 to $10.00 in a research report on Monday, April 28th. Bank of America lowered Adecoagro from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $12.00 to $10.80 in a research report on Friday, April 25th. Finally, UBS Group reduced their price target on Adecoagro from $10.50 to $9.90 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.55.

Adecoagro Company Profile

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.