Jennison Associates LLC Sells 887,008 Shares of Adecoagro S.A. (NYSE:AGRO)

Jennison Associates LLC cut its stake in Adecoagro S.A. (NYSE:AGRO - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,246,838 shares of the company's stock after selling 887,008 shares during the quarter. Jennison Associates LLC owned 4.25% of Adecoagro worth $47,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC increased its position in Adecoagro by 26.3% in 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 during the last quarter. Vident Advisory LLC increased its position in Adecoagro by 15.8% in the fourth quarter. Vident Advisory LLC now owns 29,891 shares of the company's stock worth $282,000 after buying an additional 4,089 shares during the last quarter. NBC Securities Inc. increased its position in Adecoagro by 143,775.0% in the first quarter. NBC Securities Inc. now owns 5,755 shares of the company's stock worth $64,000 after buying an additional 5,751 shares during the last quarter. Comprehensive Money Management Services LLC increased its position in Adecoagro by 17.2% in the first quarter. Comprehensive Money Management Services LLC now owns 57,630 shares of the company's stock worth $644,000 after buying an additional 8,450 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in Adecoagro in the fourth quarter worth $108,000. 45.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Adecoagro Stock Performance

Shares of NYSE:AGRO traded up $0.14 during midday trading on Wednesday, reaching $9.61. 74,364 shares of the company traded hands, compared to its average volume of 800,721. The company has a quick ratio of 1.04, a current ratio of 1.98 and a debt-to-equity ratio of 0.47. Adecoagro S.A. has a 12 month low of $8.45 and a 12 month high of $12.08. The firm has a market capitalization of $960.40 million, a price-to-earnings ratio of 15.51 and a beta of 0.70. The firm's fifty day moving average price is $9.31 and its two-hundred day moving average price is $9.94.

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.