BlackRock Inc. Takes $1.99 Million Position in Adecoagro S.A. $AGRO

Key Points

• BlackRock acquired 208,396 Adecoagro shares worth approximately $1.99 million in the second quarter, giving it a 0.15% stake. Institutional investors and hedge funds collectively own 45.25% of AGRO.
• Analyst sentiment remains cautious: AGRO has a consensus rating of “Reduce” and an average price target of $11.62, with ratings ranging from buy to sell.
• Adecoagro’s latest quarter fell short of expectations, reporting $0.13 in earnings per share versus the $0.54 consensus estimate and revenue of $538.5 million versus $602.01 million expected.

BlackRock Inc. acquired a new position in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 208,396 shares of the company's stock, valued at approximately $1,990,000. BlackRock Inc. owned 0.15% of Adecoagro as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AGRO. Ghisallo Capital Management LLC acquired a new stake in Adecoagro during the 4th quarter worth about $2,987,000. Decker Retirement Planning Inc. acquired a new position in shares of Adecoagro in the 1st quarter valued at about $4,629,000. PenderFund Capital Management Ltd. acquired a new position in shares of Adecoagro in the 3rd quarter valued at about $1,960,000. Invesco Ltd. boosted its position in shares of Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company's stock valued at $4,192,000 after purchasing an additional 212,685 shares in the last quarter. Finally, Burkehill Global Management LP bought a new stake in shares of Adecoagro during the 4th quarter valued at about $1,586,000. Institutional investors and hedge funds own 45.25% of the company's stock.

Analyst Ratings Changes

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

Adecoagro Price Performance

AGRO stock opened at $11.78 on Friday. The stock has a market capitalization of $1.68 billion, a PE ratio of 35.70 and a beta of -0.01. The company's 50-day moving average is $10.22 and its 200-day moving average is $11.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.73 and a quick ratio of 0.89. Adecoagro S.A. has a 1 year low of $6.89 and a 1 year high of $15.89.

Adecoagro (NYSE:AGRO - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $538.50 million for the quarter, compared to analyst estimates of $602.01 million. Equities research analysts expect that Adecoagro S.A. will post 1.42 EPS for the current fiscal year.

Adecoagro Company Profile

Adecoagro NYSE: AGRO is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.

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