Adecoagro S.A. (NYSE:AGRO) Short Interest Update

Adecoagro S.A. (NYSE:AGRO) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,270,000 shares, a decline of 5.2% from the October 15th total of 1,340,000 shares. Based on an average daily trading volume, of 871,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.5% of the shares of the company are short sold.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AGRO. StockNews.com downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Bank of America dropped their target price on shares of Adecoagro from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Monday, September 9th. UBS Group initiated coverage on shares of Adecoagro in a research note on Monday, October 14th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Morgan Stanley downgraded Adecoagro from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.50 to $12.50 in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Adecoagro presently has an average rating of “Hold” and a consensus target price of $12.63.

Adecoagro Trading Up 5.8 %

Shares of NYSE:AGRO opened at $11.37 on Monday. The stock has a 50 day moving average of $11.36 and a 200 day moving average of $10.52. The company has a market cap of $1.18 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08. Adecoagro has a 12-month low of $8.72 and a 12-month high of $12.51. The company has a current ratio of 2.40, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

Adecoagro Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be paid a $0.174 dividend. The ex-dividend date is Tuesday, November 12th. This is a boost from Adecoagro’s previous Semi-Annual dividend of $0.16. This represents a dividend yield of 2.9%. Adecoagro’s dividend payout ratio is 22.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Adecoagro during the third quarter valued at about $37,000. Point72 Hong Kong Ltd purchased a new position in Adecoagro in the 2nd quarter worth approximately $42,000. Quarry LP boosted its stake in Adecoagro by 259.4% in the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock worth $74,000 after purchasing an additional 5,484 shares during the period. Blue Trust Inc. grew its holdings in 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 in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Adecoagro during the third quarter valued at approximately $94,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.

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.