Fmr LLC Decreases Position in Adecoagro S.A. (NYSE:AGRO)

Fmr LLC cut its holdings in Adecoagro S.A. (NYSE:AGRO) by 14.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,507 shares of the company’s stock after selling 6,249 shares during the period. Fmr LLC’s holdings in Adecoagro were worth $415,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AGRO. Point72 Hong Kong Ltd bought a new position in shares of Adecoagro in the second quarter worth approximately $42,000. Blue Trust Inc. grew its holdings in Adecoagro by 1,281.5% in the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock worth $81,000 after acquiring an additional 6,792 shares during the last quarter. Quarry LP increased its position in shares of Adecoagro by 259.4% in the second quarter. Quarry LP now owns 7,598 shares of the company’s stock valued at $74,000 after acquiring an additional 5,484 shares during the period. nVerses Capital LLC bought a new position in shares of Adecoagro during the third quarter valued at about $94,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Adecoagro during the third quarter valued at about $195,000. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AGRO shares. UBS Group assumed coverage on Adecoagro in a report on Monday, October 14th. They set a “neutral” rating and a $12.00 price target on the stock. Morgan Stanley lowered Adecoagro from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $14.50 to $12.50 in a research report on Tuesday, September 17th. Finally, Bank of America decreased their target price on Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a report on Monday, September 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.63.

Adecoagro Price Performance

AGRO stock opened at $9.65 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.40 and a quick ratio of 1.09. Adecoagro S.A. has a 1 year low of $8.72 and a 1 year high of $12.07. The firm has a 50-day moving average of $11.09 and a 200 day moving average of $10.55. The company has a market cap of $1.00 billion, a P/E ratio of 6.43, a PEG ratio of 1.24 and a beta of 1.03.

Adecoagro Increases Dividend

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

Adecoagro 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.