PGGM Investments Decreases Holdings in Adecoagro S.A. $AGRO

Key Points

• PGGM Investments has reduced its holdings in Adecoagro S.A. by 10.1%, now owning approximately 4.05% of the company valued at $36,992,000.
• Analysts have downgraded Adecoagro's stock, with Wall Street Zen changing its rating from "hold" to "sell" and UBS reducing its price target from $9.90 to $8.50.
• Despite recent price performance, Adecoagro reported a loss of ($0.14) EPS in its latest earnings, missing consensus estimates by $0.40.

PGGM Investments trimmed its holdings in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,047,287 shares of the company's stock after selling 452,713 shares during the quarter. PGGM Investments owned 4.05% of Adecoagro worth $36,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AGRO. NBC Securities Inc. raised its position in shares of Adecoagro by 143,775.0% during the 1st quarter. NBC Securities Inc. now owns 5,755 shares of the company's stock valued at $64,000 after buying an additional 5,751 shares in the last quarter. State of Wyoming purchased a new stake in shares of Adecoagro during the 1st quarter valued at about $133,000. R Squared Ltd raised its position in shares of Adecoagro by 103.0% during the 1st quarter. R Squared Ltd now owns 15,128 shares of the company's stock valued at $169,000 after buying an additional 7,676 shares in the last quarter. Aristides Capital LLC purchased a new stake in Adecoagro in the 1st quarter worth about $295,000. Finally, Quantbot Technologies LP raised its position in Adecoagro by 5.8% in the 1st quarter. Quantbot Technologies LP now owns 26,888 shares of the company's stock worth $300,000 after purchasing an additional 1,481 shares during the period. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Adecoagro from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. UBS Group reduced their price objective on shares of Adecoagro from $9.90 to $8.50 and set a "neutral" rating on the stock in a research report on Wednesday, September 3rd. Finally, Morgan Stanley reduced their price objective on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating on the stock in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Sell" and a consensus price target of $9.60.

Adecoagro Stock Performance

Shares of NYSE:AGRO opened at $7.83 on Wednesday. The firm has a market cap of $782.95 million, a PE ratio of 22.37 and a beta of 0.65. The firm's 50 day simple moving average is $8.60 and its 200-day simple moving average is $9.42. Adecoagro S.A. has a one year low of $7.83 and a one year high of $11.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.95 and a current ratio of 1.90.

Adecoagro (NYSE:AGRO - Get Free Report) last issued its earnings results on Monday, August 18th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.40). The company had revenue of $405.66 million for the quarter, compared to analysts' expectations of $402.00 million. Adecoagro had a return on equity of 3.24% and a net margin of 2.30%. As a group, equities analysts predict that Adecoagro S.A. will post 1.24 EPS for the current year.

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.

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