Jennison Associates LLC Sells 713,658 Shares of Adecoagro S.A. (NYSE:AGRO)

Jennison Associates LLC cut its holdings in Adecoagro S.A. (NYSE:AGRO) by 12.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,133,846 shares of the company’s stock after selling 713,658 shares during the quarter. Jennison Associates LLC’s holdings in Adecoagro were worth $48,412,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AGRO. Public Employees Retirement System of Ohio acquired a new stake in shares of Adecoagro in the 3rd quarter valued at about $37,000. Point72 Hong Kong Ltd grew its holdings in shares of Adecoagro by 21.9% during the third quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company’s stock worth $58,000 after buying an additional 933 shares in the last quarter. R Squared Ltd acquired a new stake in Adecoagro in the 4th quarter valued at approximately $70,000. Blue Trust Inc. lifted its stake in Adecoagro by 1,281.5% in the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock valued at $81,000 after acquiring an additional 6,792 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Adecoagro in the 3rd quarter valued at approximately $94,000. 45.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on shares of Adecoagro in a report on Monday, October 14th. They issued a “neutral” rating and a $12.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Adecoagro has an average rating of “Hold” and a consensus target price of $12.63.

Adecoagro Price Performance

NYSE:AGRO opened at $9.64 on Wednesday. Adecoagro S.A. has a 52-week low of $8.72 and a 52-week high of $12.07. The company 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. 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 stock’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $10.59.

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.