Alico, Inc. (NASDAQ:ALCO – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $36.96 and traded as high as $41.69. Alico shares last traded at $41.21, with a volume of 26,422 shares traded.
Analyst Ratings Changes
ALCO has been the subject of a number of recent analyst reports. Wall Street Zen cut Alico from a “hold” rating to a “sell” rating in a research note on Sunday, March 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Alico in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alico currently has a consensus rating of “Hold” and a consensus target price of $42.00.
Read Our Latest Stock Analysis on Alico
Alico Price Performance
Alico (NASDAQ:ALCO – Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.92). Alico had a negative net margin of 487.45% and a negative return on equity of 101.66%. The business had revenue of $1.89 million during the quarter, compared to analyst estimates of $3.22 million. Equities research analysts predict that Alico, Inc. will post -0.37 EPS for the current fiscal year.
Alico Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be given a $0.05 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Alico’s payout ratio is currently -1.08%.
Institutional Trading of Alico
Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in Alico by 45.2% in the second quarter. Rhumbline Advisers now owns 15,598 shares of the company’s stock valued at $510,000 after buying an additional 4,859 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Alico during the second quarter worth $332,000. XTX Topco Ltd acquired a new stake in shares of Alico during the second quarter worth $268,000. Raymond James Financial Inc. acquired a new stake in shares of Alico during the second quarter worth $28,000. Finally, Jane Street Group LLC bought a new stake in Alico in the 2nd quarter valued at $439,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.
Alico Company Profile
Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.
In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.
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