The Manufacturers Life Insurance Company Has $1.05 Million Position in Adecoagro S.A. (NYSE:AGRO)

The Manufacturers Life Insurance Company raised its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 2.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 107,461 shares of the company’s stock after purchasing an additional 2,099 shares during the period. The Manufacturers Life Insurance Company’s holdings in Adecoagro were worth $1,046,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in shares of Adecoagro by 10.5% during the 1st quarter. Jennison Associates LLC now owns 5,932,720 shares of the company’s stock valued at $65,379,000 after buying an additional 561,352 shares during the period. Herr Investment Group LLC boosted its stake in shares of Adecoagro by 30.3% during the 2nd quarter. Herr Investment Group LLC now owns 2,649,555 shares of the company’s stock valued at $25,780,000 after buying an additional 616,345 shares during the period. Helikon Investments Ltd boosted its stake in shares of Adecoagro by 2.0% during the 2nd quarter. Helikon Investments Ltd now owns 2,578,229 shares of the company’s stock valued at $25,086,000 after buying an additional 51,305 shares during the period. Discovery Capital Management LLC CT lifted its stake in shares of Adecoagro by 39.1% in the 2nd quarter. Discovery Capital Management LLC CT now owns 2,376,614 shares of the company’s stock valued at $23,124,000 after purchasing an additional 667,878 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Adecoagro by 410.7% in the 1st quarter. Boston Partners now owns 679,537 shares of the company’s stock valued at $7,489,000 after purchasing an additional 546,465 shares during the last quarter. Institutional investors and hedge funds own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AGRO shares. JPMorgan Chase & Co. raised shares of Adecoagro from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $10.50 to $11.50 in a research note on Monday, July 1st. Morgan Stanley lowered shares of 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 note on Tuesday, September 17th. Bank of America reduced their price objective on shares of Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Monday, September 9th. Finally, StockNews.com lowered shares of Adecoagro from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Adecoagro Stock Down 1.2 %

Adecoagro stock opened at $10.96 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 4.64, a P/E/G ratio of 1.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 0.98. Adecoagro S.A. has a fifty-two week low of $8.72 and a fifty-two week high of $12.51. The firm has a fifty day moving average price of $11.01 and a two-hundred day moving average price of $10.46.

Adecoagro (NYSE:AGRO) last released its earnings results on Monday, August 12th. The company reported $1.03 earnings per share for the quarter. The firm had revenue of $411.42 million during the quarter. Adecoagro had a net margin of 16.28% and a return on equity of 14.91%. As a group, analysts forecast that Adecoagro S.A. will post 1.68 earnings per share 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.