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

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGRO. Banco Santander S.A. acquired a new stake in shares of Adecoagro in the fourth quarter worth $73,714,000. Causeway Capital Management LLC grew its stake in shares of Adecoagro by 88.8% in the fourth quarter. Causeway Capital Management LLC now owns 567,374 shares of the company's stock worth $5,350,000 after acquiring an additional 266,816 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Adecoagro in the fourth quarter worth $1,435,000. Dauntless Investment Group LLC acquired a new stake in shares of Adecoagro in the fourth quarter worth $1,121,000. Finally, Jane Street Group LLC grew its stake in shares of Adecoagro by 193.2% in the fourth quarter. Jane Street Group LLC now owns 156,886 shares of the company's stock worth $1,479,000 after acquiring an additional 103,378 shares during the last quarter. Institutional investors and hedge funds own 45.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Adecoagro from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $13.00 to $10.00 in a research note on Monday, April 28th. Bank of America cut Adecoagro from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $12.00 to $10.80 in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Adecoagro from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, 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. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.55.

Adecoagro Stock Performance

AGRO traded up $0.04 during trading on Friday, reaching $9.11. 318,686 shares of the company's stock were exchanged, compared to its average volume of 838,427. Adecoagro S.A. has a fifty-two week low of $8.45 and a fifty-two week high of $12.08. 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 business has a 50 day moving average price of $9.92 and a 200 day moving average price of $10.15. The company has a market capitalization of $910.74 million, a P/E ratio of 6.07, a PEG ratio of 1.43 and a beta of 0.71.

Adecoagro Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 2nd. This is a boost from Adecoagro's previous semi-annual dividend of $0.17. This represents a dividend yield of 3%. Adecoagro's dividend payout ratio (DPR) is presently 56.45%.

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.