Adecoagro S.A. (NYSE:AGRO – Get Free Report) shares dropped 6.5% during mid-day trading on Tuesday . The stock traded as low as $10.33 and last traded at $10.1890. Approximately 114,810 shares changed hands during trading, a decline of 90% from the average daily volume of 1,183,341 shares. The stock had previously closed at $10.90.
Analyst Ratings Changes
AGRO has been the topic of several research reports. Citigroup cut shares of Adecoagro from a “buy” rating to a “neutral” rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Tuesday, April 14th. Zacks Research cut shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. UBS Group raised shares of Adecoagro from a “neutral” rating to a “buy” rating and increased their price target for the stock from $8.00 to $16.20 in a research report on Monday, March 30th. JPMorgan Chase & Co. increased their price target on shares of Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday. Finally, Morgan Stanley raised shares of Adecoagro from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $9.50 to $13.00 in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Adecoagro currently has an average rating of “Hold” and a consensus target price of $12.12.
Check Out Our Latest Report on Adecoagro
Adecoagro Price Performance
Adecoagro (NYSE:AGRO – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). The business had revenue of $419.45 million during the quarter, compared to analyst estimates of $408.94 million. Adecoagro had a net margin of 0.95% and a negative return on equity of 2.38%. On average, equities research analysts predict that Adecoagro S.A. will post 1.45 EPS for the current fiscal year.
Adecoagro Announces Dividend
The firm also recently declared a dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 4th were issued a $0.1213 dividend. This represents a yield of 160.0%. The ex-dividend date of this dividend was Monday, May 4th. Adecoagro’s dividend payout ratio is 1,200.00%.
Insider Transactions at Adecoagro
In related news, CEO Mariano Bosch sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the completion of the transaction, the chief executive officer directly owned 897,249 shares of the company’s stock, valued at $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 106,815 shares of company stock valued at $1,540,799 over the last three months.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in AGRO. Orion Porfolio Solutions LLC acquired a new position in Adecoagro during the fourth quarter worth approximately $88,000. Quadrature Capital Ltd acquired a new position in Adecoagro during the fourth quarter worth approximately $123,000. Virtu Financial LLC acquired a new position in Adecoagro during the fourth quarter worth approximately $147,000. State of Wyoming increased its position in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after buying an additional 5,334 shares during the period. Finally, Savant Capital LLC acquired a new position in Adecoagro during the fourth quarter worth approximately $159,000. Institutional investors and hedge funds own 45.25% of the company’s stock.
Adecoagro Company Profile
Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.
The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.
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