JPMorgan Chase & Co. Has $7.08 Million Holdings in Adecoagro S.A. (NYSE:AGRO)

JPMorgan Chase & Co. lessened its stake in Adecoagro S.A. (NYSE:AGRO) by 21.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 639,969 shares of the company’s stock after selling 174,269 shares during the quarter. JPMorgan Chase & Co. owned about 0.61% of Adecoagro worth $7,084,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Adecoagro in the 3rd quarter valued at approximately $37,000. Point72 Hong Kong Ltd bought a new position in shares of Adecoagro during the second quarter worth approximately $42,000. Quarry LP lifted its position in shares of Adecoagro by 259.4% during the 2nd 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. Blue Trust Inc. increased 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 valued at $81,000 after buying an additional 6,792 shares during the period. Finally, nVerses Capital LLC bought a new stake in Adecoagro during the third quarter worth $94,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Stock Performance

Shares of AGRO opened at $9.90 on Wednesday. The firm’s fifty day simple moving average is $10.44 and its two-hundred day simple moving average is $10.61. Adecoagro S.A. has a 12 month low of $8.72 and a 12 month high of $12.07. The stock has a market capitalization of $1.03 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. 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 Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were paid 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 payout ratio is currently 22.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AGRO shares. UBS Group assumed coverage on shares of Adecoagro in a report on Monday, October 14th. They issued a “neutral” rating and a $12.00 target price for the company. Morgan Stanley downgraded Adecoagro from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.50 to $12.50 in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Adecoagro presently has a consensus rating of “Hold” and an average target price of $12.63.

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.