Jennison Associates LLC Sells 3,398,924 Shares of Adecoagro S.A. $AGRO

Jennison Associates LLC cut its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 80.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 847,914 shares of the company’s stock after selling 3,398,924 shares during the quarter. Jennison Associates LLC owned 0.85% of Adecoagro worth $7,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AGRO. Helikon Investments Ltd grew its holdings in shares of Adecoagro by 72.5% during the 1st quarter. Helikon Investments Ltd now owns 12,037,204 shares of the company’s stock valued at $134,456,000 after purchasing an additional 5,060,347 shares during the last quarter. Sparta 24 Ltd. bought a new stake in shares of Adecoagro during the 2nd quarter valued at approximately $19,197,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Adecoagro by 24.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,192,978 shares of the company’s stock valued at $24,496,000 after purchasing an additional 431,641 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Adecoagro by 155.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 314,481 shares of the company’s stock valued at $3,513,000 after purchasing an additional 191,431 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Adecoagro during the 1st quarter valued at approximately $1,907,000. 45.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AGRO. Wall Street Zen lowered shares of Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, September 7th. UBS Group reduced their target price on shares of Adecoagro from $9.90 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Adecoagro in a report on Wednesday, October 8th. Finally, Morgan Stanley reduced their target price on shares of Adecoagro from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Wednesday, July 16th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average target price of $9.60.

Adecoagro Trading Up 0.2%

AGRO opened at $8.08 on Friday. Adecoagro S.A. has a fifty-two week low of $7.42 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 0.95. The firm has a market capitalization of $807.42 million, a price-to-earnings ratio of 23.07 and a beta of 0.60. The company’s 50 day moving average price is $8.02 and its two-hundred day moving average price is $8.91.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Monday, August 18th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.40). The firm had revenue of $405.66 million during the quarter, compared to analyst estimates of $402.00 million. Adecoagro had a return on equity of 3.24% and a net margin of 2.30%. As a group, research analysts predict that Adecoagro S.A. will post 1.24 earnings per share for the current year.

Adecoagro Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Monday, November 3rd will be given a $0.1749 dividend. The ex-dividend date is Monday, November 3rd. This represents a dividend yield of 443.0%. Adecoagro’s payout ratio is 100.00%.

About Adecoagro

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.