abrdn plc Reduces Position in Adecoagro S.A. (NYSE:AGRO)

abrdn plc trimmed its holdings in Adecoagro S.A. (NYSE:AGRO) by 54.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,921 shares of the company’s stock after selling 127,248 shares during the quarter. abrdn plc owned about 0.10% of Adecoagro worth $1,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in Adecoagro during the third quarter worth about $37,000. Point72 Hong Kong Ltd increased its holdings in shares of Adecoagro by 21.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company’s stock worth $58,000 after buying an additional 933 shares during the last quarter. Blue Trust Inc. raised its position in shares of Adecoagro by 1,281.5% during the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock valued at $81,000 after buying an additional 6,792 shares during the period. R Squared Ltd purchased a new stake in shares of Adecoagro during the 4th quarter valued at approximately $70,000. Finally, nVerses Capital LLC acquired a new position in Adecoagro in the third quarter valued at approximately $94,000. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Adecoagro Stock Performance

NYSE:AGRO opened at $9.75 on Tuesday. Adecoagro S.A. has a fifty-two week low of $8.72 and a fifty-two week high of $12.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40. The company has a 50 day moving average price of $9.84 and a 200 day moving average price of $10.60. The stock has a market capitalization of $1.01 billion, a P/E ratio of 6.50, a PEG ratio of 1.29 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Separately, UBS Group started coverage on Adecoagro in a research note on Monday, October 14th. They set a “neutral” rating and a $12.00 target price for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Adecoagro presently has an average rating of “Hold” and a consensus target price of $12.63.

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.