Discovery Capital Management LLC CT Buys 667,878 Shares of Adecoagro S.A. (NYSE:AGRO)

Discovery Capital Management LLC CT lifted its stake in Adecoagro S.A. (NYSE:AGRO) by 39.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,376,614 shares of the company’s stock after purchasing an additional 667,878 shares during the period. Adecoagro accounts for about 3.1% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 12th biggest holding. Discovery Capital Management LLC CT owned about 2.28% of Adecoagro worth $23,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in Adecoagro in the first quarter worth $128,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Adecoagro in the 1st quarter worth about $176,000. BigSur Wealth Management LLC bought a new position in shares of Adecoagro in the 2nd quarter worth about $175,000. Bailard Inc. purchased a new position in Adecoagro during the 2nd quarter valued at about $262,000. Finally, MQS Management LLC bought a new stake in Adecoagro during the first quarter worth about $306,000. Institutional investors own 45.25% of the company’s stock.

Adecoagro Price Performance

Shares of AGRO opened at $11.41 on Monday. Adecoagro S.A. has a twelve month low of $8.72 and a twelve month high of $12.51. The company has a market capitalization of $1.19 billion, a P/E ratio of 4.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The firm has a 50 day moving average of $10.48 and a 200 day moving average of $10.37. The company has a quick ratio of 0.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.48.

Adecoagro (NYSE:AGRO) last posted its earnings results on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $411.42 million for the quarter. Adecoagro had a net margin of 16.28% and a return on equity of 14.91%. As a group, equities research analysts anticipate that Adecoagro S.A. will post 1.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AGRO has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Adecoagro from an “underweight” rating to a “neutral” rating and raised their target price for the company from $10.50 to $11.50 in a research note on Monday, July 1st. Morgan Stanley lowered Adecoagro from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.50 to $12.50 in a research report on Tuesday, September 17th. StockNews.com cut Adecoagro from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Bank of America cut their target price on Adecoagro from $15.50 to $14.50 and set a “buy” rating on the stock in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Adecoagro presently has a consensus rating of “Hold” and an average price target of $12.63.

Adecoagro Company Profile

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.