Citigroup Inc. Acquires 263,125 Shares of Adecoagro S.A. (NYSE:AGRO)

Citigroup Inc. grew its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 111.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500,113 shares of the company’s stock after acquiring an additional 263,125 shares during the period. Citigroup Inc.’s holdings in Adecoagro were worth $5,536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Adecoagro by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,461 shares of the company’s stock worth $1,046,000 after acquiring an additional 2,099 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Adecoagro in the 2nd quarter valued at $42,000. Quarry LP boosted its position in shares of Adecoagro by 259.4% during the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock valued at $74,000 after purchasing an additional 5,484 shares in the last quarter. Blue Trust Inc. boosted its stake in Adecoagro by 1,281.5% during the third quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock worth $81,000 after acquiring an additional 6,792 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Adecoagro during the 3rd quarter worth approximately $94,000. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Adecoagro Stock Performance

Shares of NYSE:AGRO opened at $10.90 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08. The company has a 50-day moving average price of $11.29 and a 200-day moving average price of $10.51. Adecoagro S.A. has a 12 month low of $8.72 and a 12 month high of $12.51.

Adecoagro Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were given a dividend of $0.174 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a dividend yield of 2.9%. This is a boost from Adecoagro’s previous Semi-Annual dividend of $0.16. Adecoagro’s payout ratio is currently 23.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. 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. UBS Group initiated coverage on Adecoagro in a research report on Monday, October 14th. They set a “neutral” rating and a $12.00 target price on the stock. Morgan Stanley cut shares of Adecoagro from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.50 to $12.50 in a report on Tuesday, September 17th. Finally, StockNews.com downgraded Adecoagro from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has 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 $12.63.

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.