Adecoagro (NYSE:AGRO) Price Target Raised to $11.50

Adecoagro (NYSE:AGRO) had its price objective upped by JPMorgan Chase & Co. from $10.00 to $11.50 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

AGRO has been the subject of a number of other reports. StockNews.com raised Adecoagro from a hold rating to a buy rating in a research note on Wednesday, November 15th. Morgan Stanley raised shares of Adecoagro from an equal weight rating to an overweight rating in a research report on Monday, August 14th. Itau BBA Securities cut Adecoagro from an outperform rating to a market perform rating and set a $12.00 target price for the company. in a report on Monday, October 2nd. Finally, Bank of America upgraded Adecoagro from an underperform rating to a neutral rating in a report on Tuesday, September 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $10.56.

Adecoagro Stock Performance

AGRO stock opened at $11.47 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.89 and a debt-to-equity ratio of 0.58. Adecoagro has a twelve month low of $6.95 and a twelve month high of $11.98. The business’s fifty day moving average is $11.00 and its 200-day moving average is $10.32. The company has a market cap of $1.27 billion, a P/E ratio of 8.37 and a beta of 1.07.

Adecoagro Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.165 per share. This is a positive change from Adecoagro’s previous Semi-Annual dividend of $0.16. The ex-dividend date is Wednesday, November 8th. This represents a yield of 3.1%. Adecoagro’s dividend payout ratio (DPR) is presently 24.09%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Adecoagro by 2.6% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,981,772 shares of the company’s stock valued at $48,393,000 after buying an additional 150,700 shares during the period. Jennison Associates LLC increased its holdings in shares of Adecoagro by 2.1% during the second quarter. Jennison Associates LLC now owns 5,364,694 shares of the company’s stock valued at $50,214,000 after acquiring an additional 110,027 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Adecoagro by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,943,599 shares of the company’s stock worth $34,411,000 after purchasing an additional 25,700 shares in the last quarter. Helikon Investments Ltd grew its position in Adecoagro by 13.6% in the 2nd quarter. Helikon Investments Ltd now owns 1,869,707 shares of the company’s stock valued at $17,500,000 after purchasing an additional 223,784 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in Adecoagro during the 2nd quarter valued at $13,015,000. 43.38% of the stock is owned by institutional investors.

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.