Jennison Associates LLC Has $48.41 Million Stake in Adecoagro S.A. (NYSE:AGRO)

Jennison Associates LLC lowered its stake in Adecoagro S.A. (NYSE:AGRO) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,133,846 shares of the company’s stock after selling 713,658 shares during the period. Jennison Associates LLC owned 4.93% of Adecoagro worth $48,412,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AGRO. Public Employees Retirement System of Ohio bought a new position in shares of Adecoagro in the 3rd quarter valued at about $37,000. Point72 Hong Kong Ltd lifted its holdings in Adecoagro by 21.9% in the third quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company’s stock valued at $58,000 after buying an additional 933 shares during the period. R Squared Ltd bought a new position in Adecoagro in the fourth quarter valued at approximately $70,000. 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 worth $81,000 after acquiring an additional 6,792 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Adecoagro during the 3rd quarter valued at $94,000. Institutional investors own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Adecoagro Stock Up 1.0 %

Shares of NYSE AGRO opened at $9.64 on Wednesday. The firm has a 50 day moving average price of $9.93 and a 200 day moving average price of $10.59. The stock has a market cap of $1.00 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.29 and a beta of 1.03. Adecoagro S.A. has a 52-week low of $8.72 and a 52-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.

Adecoagro 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.