Adecoagro S.A. $AGRO Stock: CenterBook Partners LP Cuts Holdings

CenterBook Partners LP lowered its stake in Adecoagro S.A. (NYSE:AGRO) by 82.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,790 shares of the company’s stock after selling 278,197 shares during the quarter. CenterBook Partners LP’s holdings in Adecoagro were worth $596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi grew its holdings in Adecoagro by 718.5% during the 2nd quarter. Amundi now owns 782,432 shares of the company’s stock valued at $7,472,000 after buying an additional 686,835 shares during the last quarter. PDT Partners LLC purchased a new position in Adecoagro during the second quarter worth $2,465,000. PenderFund Capital Management Ltd. purchased a new position in Adecoagro during the second quarter worth $2,388,000. BlackRock Inc. purchased a new position in Adecoagro during the second quarter worth $1,990,000. Finally, Comprehensive Money Management Services LLC acquired a new position in shares of Adecoagro in the second quarter worth $705,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.

Adecoagro Stock Performance

Shares of NYSE AGRO opened at $9.04 on Thursday. The company has a 50-day simple moving average of $10.43 and a 200-day simple moving average of $10.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.73 and a quick ratio of 0.89. The company has a market cap of $1.29 billion, a PE ratio of 27.41 and a beta of 0.01. Adecoagro S.A. has a 12 month low of $6.89 and a 12 month high of $15.89.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings data on Saturday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.41). The firm had revenue of $538.50 million for the quarter, compared to analysts’ expectations of $602.01 million. Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. On average, equities analysts anticipate that Adecoagro S.A. will post 1.11 earnings per share for the current year.

Adecoagro Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be paid a $0.1213 dividend. This represents a yield of 267.0%. The ex-dividend date of this dividend is Thursday, November 5th. Adecoagro’s payout ratio is presently 72.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Santander began coverage on Adecoagro in a report on Monday, September 14th. They issued a “neutral” rating for the company. UBS Group decreased their price objective on Adecoagro from $15.20 to $13.20 and set a “buy” rating on the stock in a research note on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adecoagro in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $11.62.

Adecoagro Company Profile

Adecoagro is a South American agribusiness company that produces food and renewable energy. Its operations span farming, dairy, rice, and sugar and ethanol production. The company grows crops such as soybeans, corn, and wheat, and produces rice and milk. In Brazil, it processes sugarcane into sugar, ethanol, and renewable electricity. Adecoagro operates in Argentina, Brazil, and Uruguay. Founded in 2002, it combines agricultural production with processing and energy generation across its regional operations.