Adecoagro S.A. (NYSE:AGRO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 11.5% during the fourth quarter, HoldingsChannel reports. The firm owned 95,879 shares of the company’s stock after selling 12,433 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Adecoagro were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AGRO. Sanctuary Advisors LLC purchased a new stake in shares of Adecoagro in the 4th quarter valued at $491,000. Causeway Capital Management LLC boosted its holdings in shares of Adecoagro by 88.8% in the 4th quarter. Causeway Capital Management LLC now owns 567,374 shares of the company’s stock valued at $5,350,000 after acquiring an additional 266,816 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Adecoagro in the 4th quarter valued at $240,000. Blue Trust Inc. boosted its holdings in shares of Adecoagro by 87.2% in the 4th quarter. Blue Trust Inc. now owns 13,709 shares of the company’s stock valued at $129,000 after acquiring an additional 6,387 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Adecoagro in the 4th quarter valued at $526,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AGRO shares. Morgan Stanley downgraded shares of Adecoagro from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $13.00 to $10.00 in a report 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 on the stock in a report on Tuesday, April 29th. Bank of America downgraded shares of Adecoagro from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $12.00 to $10.80 in a report on Friday, April 25th. Finally, StockNews.com downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.55.

Adecoagro Stock Performance

Shares of NYSE AGRO opened at $8.80 on Thursday. The company’s fifty day moving average price is $10.49 and its 200 day moving average price is $10.40. Adecoagro S.A. has a 1 year low of $8.45 and a 1 year high of $12.08. The company has a market capitalization of $879.94 million, a PE ratio of 5.87, a price-to-earnings-growth ratio of 1.43 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40.

Adecoagro Increases Dividend

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

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.