Adecoagro (NYSE:AGRO) Given New $11.50 Price Target at JPMorgan Chase & Co.

Adecoagro (NYSE:AGRO) had its price objective boosted by JPMorgan Chase & Co. from $10.00 to $11.50 in a research note released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts have also recently commented on AGRO. Itau BBA Securities cut Adecoagro from an outperform rating to a market perform rating and set a $12.00 price target for the company. in a research report on Monday, October 2nd. Morgan Stanley raised shares of Adecoagro from an equal weight rating to an overweight rating in a report on Monday, August 14th. Bank of America raised shares of Adecoagro from an underperform rating to a neutral rating in a report on Tuesday, September 5th. Finally, StockNews.com raised shares of Adecoagro from a hold rating to a buy rating in a research note on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $10.56.

Adecoagro Trading Up 9.6 %

NYSE:AGRO opened at $11.47 on Friday. Adecoagro has a one year low of $6.95 and a one year high of $11.98. The business has a fifty day moving average price of $11.00 and a 200-day moving average price of $10.32. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.89 and a quick ratio of 0.76.

Adecoagro Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be paid a $0.165 dividend. This represents a yield of 3.1%. This is an increase from Adecoagro’s previous Semi-Annual dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 8th. Adecoagro’s dividend payout ratio is presently 24.09%.

Hedge Funds Weigh In On Adecoagro

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Adecoagro by 81.2% in the first quarter. JPMorgan Chase & Co. now owns 312,044 shares of the company’s stock valued at $3,769,000 after purchasing an additional 139,854 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Adecoagro in the 1st quarter worth $766,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Adecoagro in the 1st quarter worth about $2,106,000. Verition Fund Management LLC purchased a new stake in shares of Adecoagro during the 1st quarter valued at about $6,060,000. Finally, Wexford Capital LP purchased a new position in Adecoagro in the first quarter worth about $2,210,000. Hedge funds and other institutional investors own 43.38% of the company’s stock.

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.