BidaskClub cut shares of Alico (NASDAQ:ALCO) from a buy rating to a hold rating in a research report report published on Thursday morning.
Separately, ValuEngine upgraded shares of Alico from a hold rating to a buy rating in a research report on Friday, October 19th.
Shares of NASDAQ ALCO traded down $0.15 during mid-day trading on Thursday, reaching $33.11. The company’s stock had a trading volume of 5,507 shares, compared to its average volume of 7,516. The company has a current ratio of 5.02, a quick ratio of 3.11 and a debt-to-equity ratio of 0.97. Alico has a 1-year low of $25.55 and a 1-year high of $34.65.
Alico (NASDAQ:ALCO) last issued its earnings results on Monday, August 6th. The company reported $0.29 EPS for the quarter. The business had revenue of $26.52 million during the quarter. Alico had a negative net margin of 7.94% and a negative return on equity of 4.09%.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, September 27th.
In other news, insider George R. Brokaw sold 524,795 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $34.00, for a total value of $17,843,030.00. Following the completion of the sale, the insider now directly owns 372,701 shares in the company, valued at $12,671,834. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 60.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ALCO. Towerview LLC grew its holdings in shares of Alico by 25.2% in the third quarter. Towerview LLC now owns 82,541 shares of the company’s stock valued at $2,790,000 after purchasing an additional 16,628 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Alico by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 329,262 shares of the company’s stock valued at $8,956,000 after purchasing an additional 16,302 shares during the period. BlackRock Inc. grew its holdings in shares of Alico by 3.0% in the second quarter. BlackRock Inc. now owns 242,566 shares of the company’s stock valued at $7,690,000 after purchasing an additional 7,053 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Alico by 6.0% in the second quarter. Renaissance Technologies LLC now owns 67,291 shares of the company’s stock valued at $2,133,000 after purchasing an additional 3,800 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Alico by 14.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 27,195 shares of the company’s stock valued at $863,000 after purchasing an additional 3,532 shares during the period. 74.74% of the stock is owned by hedge funds and other institutional investors.
Alico Company Profile
Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates through three segments: Alico Citrus, Conservation and Environmental Resources, and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruits for sale to fresh and processed citrus markets; and contracting for the harvesting, marketing, and hauling of citrus.
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