JPMorgan Chase & Co. Has $7.08 Million Stake in Adecoagro S.A. (NYSE:AGRO)

JPMorgan Chase & Co. cut its stake in Adecoagro S.A. (NYSE:AGRO) by 21.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 639,969 shares of the company’s stock after selling 174,269 shares during the quarter. JPMorgan Chase & Co.’s holdings in Adecoagro were worth $7,084,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Adecoagro in the 3rd quarter worth approximately $37,000. Point72 Hong Kong Ltd bought a new stake in Adecoagro during the 2nd quarter valued at $42,000. Quarry LP lifted its holdings in shares of Adecoagro by 259.4% in the second quarter. Quarry LP now owns 7,598 shares of the company’s stock worth $74,000 after buying an additional 5,484 shares in the last quarter. Blue Trust Inc. boosted its stake in Adecoagro by 1,281.5% during the third quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock valued at $81,000 after buying an additional 6,792 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Adecoagro in the third quarter worth approximately $94,000. Institutional investors own 45.25% of the company’s stock.

Adecoagro Stock Performance

Shares of AGRO opened at $9.90 on Wednesday. Adecoagro S.A. has a 52 week low of $8.72 and a 52 week high of $12.07. The stock has a market cap of $1.03 billion, a P/E ratio of 6.60, a P/E/G ratio of 1.24 and a beta of 1.04. The business’s 50 day moving average price is $10.44 and its 200-day moving average price is $10.61. The company has a quick ratio of 1.09, a current ratio of 2.40 and a debt-to-equity ratio of 0.48.

Adecoagro Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were issued a $0.174 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Adecoagro’s previous Semi-Annual dividend of $0.16. This represents a yield of 2.9%. Adecoagro’s payout ratio is 22.67%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group initiated coverage on Adecoagro in a report on Monday, October 14th. They issued a “neutral” rating and a $12.00 price objective for the company. Morgan Stanley lowered Adecoagro from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.50 to $12.50 in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Adecoagro presently has a consensus rating of “Hold” and a consensus price target of $12.63.

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.