Adecoagro (NYSE:AGRO) Shares Gap Up – Time to Buy?

Adecoagro S.A. (NYSE:AGRO)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $11.15, but opened at $11.60. Adecoagro shares last traded at $11.46, with a volume of 1,234,812 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Adecoagro from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.63.

Adecoagro Stock Performance

The company has a market cap of $1.18 billion, a P/E ratio of 7.58, a P/E/G ratio of 1.43 and a beta of 0.98. The firm’s fifty day moving average price is $10.32 and its 200-day moving average price is $10.64. The company has a current ratio of 2.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48.

Adecoagro Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.175 per share. This is a positive change from Adecoagro’s previous semi-annual dividend of $0.17. This represents a dividend yield of 3%. The ex-dividend date is Friday, May 2nd. Adecoagro’s payout ratio is 39.33%.

Hedge Funds Weigh In On Adecoagro

Several hedge funds and other institutional investors have recently modified their holdings of AGRO. Public Employees Retirement System of Ohio bought a new position in shares of Adecoagro during the third quarter valued at $37,000. Point72 Hong Kong Ltd boosted its position in Adecoagro by 21.9% in the third quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company’s stock valued at $58,000 after buying an additional 933 shares in the last quarter. R Squared Ltd bought a new stake in Adecoagro during the fourth quarter worth about $70,000. OLD Mission Capital LLC bought a new position in shares of Adecoagro in the fourth quarter valued at about $108,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Adecoagro during the 4th quarter worth about $126,000. Institutional investors own 45.25% of the company’s stock.

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.