Alico, Inc. $ALCO Stock Holdings Lifted by Accordant Advisory Group Inc

Accordant Advisory Group Inc grew its stake in shares of Alico, Inc. (NASDAQ:ALCO) by 14.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 50,202 shares of the company’s stock after acquiring an additional 6,321 shares during the period. Alico comprises about 1.2% of Accordant Advisory Group Inc’s portfolio, making the stock its 23rd largest holding. Accordant Advisory Group Inc owned 0.66% of Alico worth $1,641,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Peapod Lane Capital LLC lifted its holdings in shares of Alico by 0.3% during the second quarter. Peapod Lane Capital LLC now owns 131,265 shares of the company’s stock valued at $4,290,000 after purchasing an additional 434 shares during the last quarter. Towerview LLC raised its holdings in Alico by 8.7% during the 2nd quarter. Towerview LLC now owns 125,000 shares of the company’s stock worth $4,085,000 after buying an additional 10,000 shares during the period. Oak Family Advisors LLC acquired a new stake in Alico during the 2nd quarter worth about $1,531,000. Russell Investments Group Ltd. lifted its stake in Alico by 4,016.2% during the first quarter. Russell Investments Group Ltd. now owns 29,513 shares of the company’s stock valued at $881,000 after buying an additional 28,796 shares in the last quarter. Finally, Ellsworth Advisors LLC acquired a new position in shares of Alico in the first quarter worth about $657,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Alico Trading Down 2.2%

Shares of NASDAQ ALCO opened at $31.35 on Thursday. The company has a current ratio of 9.37, a quick ratio of 8.87 and a debt-to-equity ratio of 0.72. Alico, Inc. has a one year low of $24.76 and a one year high of $35.90. The business has a 50-day moving average price of $33.83 and a two-hundred day moving average price of $32.77. The firm has a market capitalization of $239.67 million, a PE ratio of -1.53 and a beta of 0.99.

Alico Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Alico’s payout ratio is presently -0.97%.

Insiders Place Their Bets

In other Alico news, Director Henry R. Slack sold 3,548 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $34.29, for a total value of $121,660.92. Following the completion of the sale, the director owned 35,188 shares in the company, valued at $1,206,596.52. This represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Alico in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Alico has an average rating of “Sell”.

About Alico

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.