Millennium Management LLC Sells 522,808 Shares of Adecoagro S.A. (NYSE:AGRO)

Millennium Management LLC trimmed its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 59.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,329 shares of the company’s stock after selling 522,808 shares during the quarter. Millennium Management LLC’s holdings in Adecoagro were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in Adecoagro by 26.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 156,990 shares of the company’s stock valued at $1,743,000 after acquiring an additional 33,000 shares during the last quarter. Quadrature Capital Ltd lifted its stake in Adecoagro by 72.6% in the fourth quarter. Quadrature Capital Ltd now owns 53,775 shares of the company’s stock valued at $597,000 after buying an additional 22,612 shares during the period. Helikon Investments Ltd grew its position in shares of Adecoagro by 95.5% during the 1st quarter. Helikon Investments Ltd now owns 2,526,924 shares of the company’s stock worth $27,847,000 after buying an additional 1,234,654 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Adecoagro during the 1st quarter valued at $843,000. Finally, Jennison Associates LLC boosted its stake in Adecoagro by 10.5% during the first quarter. Jennison Associates LLC now owns 5,932,720 shares of the company’s stock worth $65,379,000 after acquiring an additional 561,352 shares in the last quarter. 45.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AGRO shares. StockNews.com lowered shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Morgan Stanley lowered Adecoagro from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $14.50 to $12.50 in a report on Tuesday, September 17th. Bank of America decreased their price objective on Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised shares of Adecoagro from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $10.50 to $11.50 in a research report on Monday, July 1st.

Adecoagro Price Performance

AGRO stock opened at $10.96 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 2.42. The business has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $10.45. The company has a market capitalization of $1.14 billion, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Adecoagro S.A. has a 52-week low of $8.72 and a 52-week high of $12.51.

Adecoagro (NYSE:AGRO) last announced its earnings results on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. The company had revenue of $411.42 million for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. Research analysts expect that Adecoagro S.A. will post 1.68 EPS for the current fiscal year.

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.