Bank of America Corp DE Sells 93,886 Shares of Adecoagro S.A. (NYSE:AGRO)

Bank of America Corp DE lowered its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,454 shares of the company’s stock after selling 93,886 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of Adecoagro worth $1,937,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AGRO. Banco Santander S.A. bought a new position in Adecoagro during the fourth quarter valued at about $73,714,000. Causeway Capital Management LLC lifted its holdings in Adecoagro by 88.8% during the fourth quarter. Causeway Capital Management LLC now owns 567,374 shares of the company’s stock valued at $5,350,000 after purchasing an additional 266,816 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Adecoagro during the fourth quarter valued at about $1,435,000. Dauntless Investment Group LLC purchased a new stake in Adecoagro during the fourth quarter valued at about $1,121,000. Finally, Jane Street Group LLC lifted its holdings in Adecoagro by 193.2% during the fourth quarter. Jane Street Group LLC now owns 156,886 shares of the company’s stock valued at $1,479,000 after purchasing an additional 103,378 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

AGRO has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Adecoagro from $10.50 to $9.90 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Morgan Stanley downgraded shares of Adecoagro from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $13.00 to $10.00 in a report on Monday, April 28th. Bank of America downgraded shares of Adecoagro from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $12.00 to $10.80 in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.55.

Adecoagro Trading Up 2.8%

Shares of Adecoagro stock opened at $9.42 on Wednesday. Adecoagro S.A. has a 12-month low of $8.45 and a 12-month high of $12.08. The company has a market cap of $941.53 million, a price-to-earnings ratio of 6.28, a PEG ratio of 1.43 and a beta of 0.74. The company has a current ratio of 2.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $10.05 and its 200-day moving average price is $10.19.

Adecoagro Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $0.175 dividend. This is an increase from Adecoagro’s previous semi-annual dividend of $0.17. This represents a yield of 3%. The ex-dividend date was Friday, May 2nd. Adecoagro’s dividend payout ratio (DPR) is currently 56.45%.

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.