Adecoagro S.A. (NYSE:AGRO) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in Adecoagro S.A. (NYSE:AGRO) by 19.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,169 shares of the company’s stock after selling 57,032 shares during the quarter. abrdn plc owned about 0.22% of Adecoagro worth $2,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Discovery Capital Management LLC CT boosted its holdings in shares of Adecoagro by 39.1% in the second quarter. Discovery Capital Management LLC CT now owns 2,376,614 shares of the company’s stock valued at $23,124,000 after acquiring an additional 667,878 shares during the period. Herr Investment Group LLC raised its stake in shares of Adecoagro by 30.3% during the second quarter. Herr Investment Group LLC now owns 2,649,555 shares of the company’s stock worth $25,780,000 after purchasing an additional 616,345 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Adecoagro by 10.5% during the first quarter. Jennison Associates LLC now owns 5,932,720 shares of the company’s stock worth $65,379,000 after purchasing an additional 561,352 shares during the last quarter. Boston Partners raised its position in Adecoagro by 410.7% in the first quarter. Boston Partners now owns 679,537 shares of the company’s stock worth $7,489,000 after acquiring an additional 546,465 shares in the last quarter. Finally, Absolute Gestao de Investimentos Ltda. purchased a new position in Adecoagro in the first quarter worth $4,174,000. 45.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on AGRO. Bank of America cut their price objective on Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Monday, September 9th. StockNews.com cut Adecoagro from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Morgan Stanley lowered Adecoagro from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $14.50 to $12.50 in a report on Tuesday, September 17th. Finally, UBS Group started coverage on Adecoagro in a report on Monday, October 14th. They issued a “neutral” rating and a $12.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Adecoagro has a consensus rating of “Hold” and an average target price of $12.63.

Adecoagro Stock Down 1.7 %

Shares of NYSE:AGRO opened at $11.31 on Monday. The stock’s 50-day moving average price is $11.30 and its two-hundred day moving average price is $10.49. The company has a current ratio of 2.42, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. Adecoagro S.A. has a 12-month low of $8.72 and a 12-month high of $12.51. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 1.11 and a beta of 1.07.

Adecoagro (NYSE:AGRO) last released its quarterly earnings data on Monday, August 12th. The company reported $1.03 EPS for the quarter. The company had revenue of $411.42 million for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. On average, research analysts forecast that Adecoagro S.A. will post 1.68 EPS for the current year.

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.