Jennison Associates LLC decreased its position in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 17.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,246,838 shares of the company's stock after selling 887,008 shares during the period. Jennison Associates LLC owned 4.25% of Adecoagro worth $47,437,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AGRO. Insigneo Advisory Services LLC acquired a new position in Adecoagro in the 1st quarter valued at about $1,056,000. Causeway Capital Management LLC increased its holdings in Adecoagro by 88.8% during the 4th quarter. Causeway Capital Management LLC now owns 567,374 shares of the company's stock valued at $5,350,000 after acquiring an additional 266,816 shares in the last quarter. Northern Trust Corp increased its holdings in Adecoagro by 352.0% during the 4th quarter. Northern Trust Corp now owns 57,549 shares of the company's stock valued at $543,000 after acquiring an additional 44,816 shares in the last quarter. Comprehensive Money Management Services LLC acquired a new stake in shares of Adecoagro during the 4th quarter worth about $464,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Adecoagro in the fourth quarter worth approximately $526,000. Hedge funds and other institutional investors own 45.25% of the company's stock.
Adecoagro Price Performance
Adecoagro stock traded down $0.03 during midday trading on Friday, hitting $9.51. The company's stock had a trading volume of 292,597 shares, compared to its average volume of 805,698. The stock's 50-day moving average price is $9.28 and its 200-day moving average price is $9.94. The company has a quick ratio of 1.04, a current ratio of 1.98 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $950.90 million, a PE ratio of 15.34 and a beta of 0.70. Adecoagro S.A. has a 12 month low of $8.45 and a 12 month high of $12.08.
Analyst Ratings Changes
AGRO has been the topic of several research reports. Bank of America lowered shares of Adecoagro from a "buy" rating to an "underperform" rating and cut their price target for the company from $12.00 to $10.80 in a report on Friday, April 25th. UBS Group dropped their price target on shares of Adecoagro from $10.50 to $9.90 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Morgan Stanley decreased their price objective on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating for the company in a report on Wednesday.
View Our Latest Research Report on Adecoagro
Adecoagro Profile
(
Free Report)
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.
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