Adecoagro (NYSE:AGRO) Shares Gap Down – What’s Next?

Adecoagro S.A. (NYSE:AGRO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.32, but opened at $7.60. Adecoagro shares last traded at $8.7750, with a volume of 470,389 shares traded.

Analysts Set New Price Targets

AGRO has been the subject of several research analyst reports. JPMorgan Chase & Co. started coverage on Adecoagro in a research report on Monday, December 1st. They set an “underweight” rating and a $7.00 price objective for the company. UBS Group dropped their target price on shares of Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Adecoagro in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. One investment analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adecoagro has a consensus rating of “Strong Sell” and an average target price of $8.83.

Adecoagro Stock Up 2.9%

The company has a market capitalization of $855.81 million, a price-to-earnings ratio of 36.98 and a beta of 0.44. The business has a fifty day simple moving average of $7.91 and a two-hundred day simple moving average of $8.57. The company has a quick ratio of 1.56, a current ratio of 2.80 and a debt-to-equity ratio of 0.73.

Adecoagro (NYSE:AGRO) last issued its earnings results on Monday, December 1st. The company reported $0.00 earnings per share (EPS) for the quarter. The business had revenue of $304.21 million during the quarter. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%. Equities analysts expect that Adecoagro S.A. will post 1.24 EPS for the current year.

Adecoagro Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 3rd were paid a $0.1749 dividend. This represents a dividend yield of 444.0%. The ex-dividend date was Monday, November 3rd. Adecoagro’s payout ratio is currently 152.17%.

Hedge Funds Weigh In On Adecoagro

Several institutional investors have recently bought and sold shares of the business. Amundi boosted its holdings in Adecoagro by 5.1% in the first quarter. Amundi now owns 730,766 shares of the company’s stock valued at $8,177,000 after acquiring an additional 35,530 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Adecoagro during the 1st quarter valued at $1,907,000. Alpine Global Management LLC acquired a new position in shares of Adecoagro in the 1st quarter valued at $1,609,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Adecoagro by 24.5% in 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 period. Finally, Maverick Capital Ltd. boosted its position in shares of Adecoagro by 162.3% in the 1st quarter. Maverick Capital Ltd. now owns 48,291 shares of the company’s stock worth $539,000 after purchasing an additional 29,883 shares during the last quarter. 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.