MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 714,911 Shares of Adecoagro S.A. (NYSE:AGRO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Adecoagro S.A. (NYSE:AGRO) by 68.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,761,337 shares of the company’s stock after purchasing an additional 714,911 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Adecoagro were worth $16,609,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AGRO. Banco Santander S.A. acquired a new position in Adecoagro in the fourth quarter worth $73,714,000. Causeway Capital Management LLC raised its holdings in shares of Adecoagro by 88.8% in the fourth quarter. Causeway Capital Management LLC now owns 567,374 shares of the company’s stock valued at $5,350,000 after buying an additional 266,816 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Adecoagro in the fourth quarter valued at about $1,435,000. Dauntless Investment Group LLC acquired a new position in Adecoagro during the 4th quarter worth about $1,121,000. Finally, Cubist Systematic Strategies LLC grew its holdings in Adecoagro by 586.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 123,050 shares of the company’s stock worth $1,160,000 after acquiring an additional 105,134 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of Adecoagro from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $13.00 to $10.00 in a research note on Monday, April 28th. UBS Group dropped their price objective on shares of Adecoagro from $10.50 to $9.90 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. StockNews.com downgraded Adecoagro from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Bank of America cut Adecoagro from a “buy” rating to an “underperform” rating and lowered their target price for the company from $12.00 to $10.80 in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.55.

Adecoagro Stock Performance

Adecoagro stock opened at $8.92 on Friday. The company has a market cap of $891.94 million, a PE ratio of 5.95, a PEG ratio of 1.43 and a beta of 0.74. 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 S.A. has a 1 year low of $8.45 and a 1 year high of $12.08. The company’s 50-day moving average is $10.45 and its two-hundred day moving average is $10.38.

Adecoagro Increases Dividend

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

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.