Adecoagro S.A. (NYSE:AGRO) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in Adecoagro S.A. (NYSE:AGRO) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,693 shares of the company’s stock after selling 16,348 shares during the quarter. Millennium Management LLC owned about 0.06% of Adecoagro worth $553,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AGRO. Principal Securities Inc. lifted its holdings in Adecoagro by 9.6% in the fourth quarter. Principal Securities Inc. now owns 33,886 shares of the company’s stock worth $320,000 after purchasing an additional 2,970 shares during the period. Sanctuary Advisors LLC acquired a new stake in Adecoagro in the 4th quarter valued at about $491,000. Carrera Capital Advisors acquired a new stake in Adecoagro in the 4th quarter valued at about $887,000. Banco Santander S.A. acquired a new stake in Adecoagro in the 4th quarter valued at about $73,714,000. Finally, Magnetar Financial LLC acquired a new stake in Adecoagro in the 4th quarter valued at about $526,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Price Performance

NYSE AGRO opened at $9.11 on Monday. The stock’s 50-day moving average price is $9.92 and its two-hundred day moving average price is $10.14. 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 has a market cap of $910.74 million, a PE ratio of 6.07, a PEG ratio of 1.43 and a beta of 0.71. Adecoagro S.A. has a 1 year low of $8.45 and a 1 year high of $12.08.

Adecoagro Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.175 per share. This represents a yield of 3%. The ex-dividend date of this dividend was Friday, May 2nd. This is an increase from Adecoagro’s previous semi-annual dividend of $0.17. Adecoagro’s payout ratio is presently 56.45%.

Analyst Ratings Changes

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

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.