Bank of New York Mellon Corp Has $1.24 Million Stake in Alico, Inc. (NASDAQ:ALCO)

Bank of New York Mellon Corp lessened its holdings in Alico, Inc. (NASDAQ:ALCO) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,408 shares of the company’s stock after selling 1,229 shares during the period. Bank of New York Mellon Corp owned approximately 0.54% of Alico worth $1,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALCO. GAMMA Investing LLC raised its holdings in Alico by 8,107.1% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the company’s stock valued at $69,000 after acquiring an additional 2,270 shares during the period. Perritt Capital Management Inc boosted its position in Alico by 66.7% during the fourth quarter. Perritt Capital Management Inc now owns 5,000 shares of the company’s stock valued at $130,000 after buying an additional 2,000 shares during the period. Wells Fargo & Company MN boosted its position in Alico by 21.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,177 shares of the company’s stock valued at $134,000 after buying an additional 908 shares during the period. Riverwater Partners LLC purchased a new stake in shares of Alico during the fourth quarter worth about $273,000. Finally, Barclays PLC boosted its holdings in shares of Alico by 14.5% during the fourth quarter. Barclays PLC now owns 10,686 shares of the company’s stock worth $277,000 after purchasing an additional 1,350 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Alico Price Performance

Shares of ALCO opened at $32.27 on Thursday. The company has a market capitalization of $246.54 million, a P/E ratio of -1.75 and a beta of 0.99. The company has a quick ratio of 4.65, a current ratio of 5.56 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $32.07 and a 200 day moving average of $30.50. Alico, Inc. has a twelve month low of $24.23 and a twelve month high of $34.31.

Alico (NASDAQ:ALCO) last issued its earnings results on Tuesday, May 13th. The company reported ($10.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($10.62). The company had revenue of $17.98 million during the quarter, compared to analysts’ expectations of $22.20 million. Alico had a negative return on equity of 41.08% and a negative net margin of 284.75%. As a group, equities research analysts anticipate that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

Alico Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.05 per share. The ex-dividend date was Friday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. Alico’s payout ratio is -1.09%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Alico from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd.

Alico Company Profile

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.