Cary Street Partners Financial LLC Makes New $478,000 Investment in Alico, Inc. $ALCO

Cary Street Partners Financial LLC bought a new position in Alico, Inc. (NASDAQ:ALCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,151 shares of the company’s stock, valued at approximately $478,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Alico by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 259,666 shares of the company’s stock valued at $9,000,000 after buying an additional 4,064 shares in the last quarter. Peapod Lane Capital LLC grew its stake in Alico by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 133,701 shares of the company’s stock valued at $4,864,000 after buying an additional 983 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in Alico by 39.4% during the 4th quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock valued at $3,435,000 after acquiring an additional 26,688 shares during the period. Oak Family Advisors LLC raised its holdings in Alico by 12.1% during the 4th quarter. Oak Family Advisors LLC now owns 57,655 shares of the company’s stock valued at $2,097,000 after acquiring an additional 6,238 shares during the period. Finally, UBS Group AG lifted its position in shares of Alico by 2.0% during the third quarter. UBS Group AG now owns 27,239 shares of the company’s stock worth $944,000 after acquiring an additional 523 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Alico Trading Down 2.5%

Shares of ALCO opened at $40.65 on Friday. The business’s 50-day moving average price is $41.50 and its 200-day moving average price is $39.17. The company has a quick ratio of 9.39, a current ratio of 9.63 and a debt-to-equity ratio of 0.80. Alico, Inc. has a twelve month low of $30.89 and a twelve month high of $45.01. The stock has a market cap of $301.62 million, a PE ratio of -16.52 and a beta of 0.95.

Alico Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, April 2nd. Alico’s dividend payout ratio (DPR) is -8.13%.

Analysts Set New Price Targets

ALCO has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a report on Monday, April 20th. Freedom Capital lowered Alico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Roth Mkm set a $45.00 target price on Alico and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alico presently has an average rating of “Hold” and an average target price of $45.00.

About Alico

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.