Adecoagro S.A. (NYSE:AGRO) Short Interest Down 8.1% in December

Adecoagro S.A. (NYSE:AGRO) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,130,000 shares, a decrease of 8.1% from the December 15th total of 1,230,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 599,900 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

Separately, UBS Group started coverage on Adecoagro in a report on Monday, October 14th. They set a “neutral” rating and a $12.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Adecoagro currently has a consensus rating of “Hold” and an average target price of $12.63.

Adecoagro Price Performance

Shares of NYSE AGRO traded down $0.19 during mid-day trading on Monday, reaching $9.66. The company had a trading volume of 614,906 shares, compared to its average volume of 429,238. Adecoagro has a 1-year low of $8.72 and a 1-year high of $12.07. The stock has a market cap of $1.01 billion, a PE ratio of 6.44, a P/E/G ratio of 1.05 and a beta of 1.04. 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 50-day moving average price of $10.31 and a two-hundred day moving average price of $10.61.

Adecoagro Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were given a $0.174 dividend. This is an increase from Adecoagro’s previous Semi-Annual dividend of $0.16. This represents a dividend yield of 2.9%. The ex-dividend date was Tuesday, November 12th. Adecoagro’s dividend payout ratio (DPR) is 23.33%.

Hedge Funds Weigh In On Adecoagro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Adecoagro during the third quarter valued at $37,000. Point72 Hong Kong Ltd acquired a new position in Adecoagro in the 2nd quarter valued at approximately $42,000. Quarry LP lifted its position 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 buying an additional 5,484 shares in the last quarter. Blue Trust Inc. boosted its stake 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. Finally, nVerses Capital LLC purchased a new position in shares of Adecoagro during the 3rd quarter valued at $94,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

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.