Shares of Adecoagro S.A. (NYSE:AGRO – Get Free Report) dropped 5.1% on Friday . The company traded as low as $12.89 and last traded at $12.9290. Approximately 280,628 shares were traded during trading, a decline of 77% from the average daily volume of 1,243,012 shares. The stock had previously closed at $13.62.
Analyst Ratings Changes
AGRO has been the topic of several research analyst reports. Weiss Ratings lowered Adecoagro from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday. UBS Group raised Adecoagro from a “neutral” rating to a “buy” rating and boosted their target price for the company from $8.00 to $16.20 in a report on Monday, March 30th. Zacks Research lowered Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Citigroup downgraded Adecoagro from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $13.00 to $15.00 in a research report on Tuesday, April 14th. Finally, Wall Street Zen upgraded Adecoagro from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $11.53.
Check Out Our Latest Research Report on Adecoagro
Adecoagro Stock Down 5.1%
Adecoagro (NYSE:AGRO – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). The company had revenue of $419.45 million for the quarter, compared to the consensus estimate of $408.94 million. Adecoagro had a net margin of 0.95% and a negative return on equity of 2.38%. On average, sell-side analysts anticipate that Adecoagro S.A. will post 1.45 earnings per share for the current year.
Adecoagro Dividend Announcement
The business also recently announced a dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, May 4th were paid a dividend of $0.1213 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a yield of 160.0%. Adecoagro’s dividend payout ratio (DPR) is presently 1,200.00%.
Insider Buying and Selling at Adecoagro
In other news, CEO Mariano Bosch sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the chief executive officer owned 897,249 shares in the company, valued at approximately $13,010,110.50. This trade represents a 10.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 106,815 shares of company stock worth $1,540,799. Company insiders own 6.70% of the company’s stock.
Hedge Funds Weigh In On Adecoagro
Hedge funds have recently modified their holdings of the stock. Ghisallo Capital Management LLC bought a new position in Adecoagro during the fourth quarter valued at approximately $2,987,000. Decker Retirement Planning Inc. acquired a new position in shares of Adecoagro during the 1st quarter worth about $4,629,000. PenderFund Capital Management Ltd. acquired a new position in shares of Adecoagro during the 3rd quarter worth about $1,960,000. Invesco Ltd. lifted its position in shares of Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after purchasing an additional 212,685 shares during the last quarter. Finally, Burkehill Global Management LP acquired a new position in Adecoagro in the 4th quarter valued at approximately $1,586,000. 45.25% of the stock is owned by institutional investors and hedge funds.
About Adecoagro
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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