5 Wheat Stocks to Buy Now

3. Adecoagro S.A. (NYSE:AGRO)

Number of Hedge Fund Holders: 22

Adecoagro S.A. (NYSE:AGRO) is a Luxembourg-based agro-industrial company that cultivates and sells grains such as wheat, corn, soybeans, peanut, cotton, and sunflowers. The company is also involved in dairy operations and land transformation activities. 

Adecoagro S.A. (NYSE:AGRO) disclosed Q4 non-GAAP EPS of $0.51 on March 14, while the company reported revenue of $312.76 million, up 34.0% year-over-year. Amid the Russia-Ukraine war, the company’s stock has gained 36.44% over the last month. 

Morgan Stanley analyst Javier Martinez de Olcoz Cerdan upgraded Adecoagro S.A. (NYSE:AGRO) to ‘Overweight’ from ‘Equal Weight’ on October 18,  with a price target of $12, up from $9. 

According to the fourth quarter database of Insider Monkey, 22 hedge funds were bullish on Adecoagro S.A. (NYSE:AGRO), up from 12 funds in the prior quarter. The total stakes held in Q4 amounted to $266.4 million. William Duhamel’s Route One Investment Company is a major shareholder of the company, with 14.3 million shares worth more than $110 million.