Jane Street Group LLC Sells 18,431 Shares of Adecoagro S.A. (NYSE:AGRO)

Jane Street Group LLC lessened its stake in Adecoagro S.A. (NYSE:AGRO) by 25.6% during the third quarter, HoldingsChannel reports. The firm owned 53,508 shares of the company’s stock after selling 18,431 shares during the period. Jane Street Group LLC’s holdings in Adecoagro were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Ping Capital Management Inc. bought a new stake in Adecoagro during the 2nd quarter valued at $1,099,000. MQS Management LLC raised its holdings in Adecoagro by 55.1% during the 2nd quarter. MQS Management LLC now owns 43,081 shares of the company’s stock valued at $419,000 after acquiring an additional 15,298 shares during the period. Herr Investment Group LLC raised its holdings in 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 acquiring an additional 616,345 shares during the period. Sei Investments Co. raised its holdings in Adecoagro by 21.9% during the 2nd quarter. Sei Investments Co. now owns 87,237 shares of the company’s stock valued at $849,000 after acquiring an additional 15,700 shares during the period. Finally, Discovery Capital Management LLC CT raised its holdings in Adecoagro by 39.1% during 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 acquiring an additional 667,878 shares during the period. Institutional investors own 45.25% of the company’s stock.

Analysts Set New Price Targets

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

Adecoagro Stock Performance

Shares of NYSE:AGRO opened at $9.53 on Friday. The company has a market cap of $992.41 million, a price-to-earnings ratio of 6.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The company has a 50-day moving average price of $10.65 and a 200-day moving average price of $10.58. The company has a current ratio of 2.40, a quick ratio of 1.09 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 $12.07.

Adecoagro Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.174 per share. This is an increase from Adecoagro’s previous Semi-Annual dividend of $0.16. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a dividend yield of 2.9%. Adecoagro’s dividend payout ratio (DPR) is currently 22.67%.

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.