Alico, Inc. $ALCO is Towerview LLC’s 8th Largest Position

Towerview LLC decreased its stake in Alico, Inc. (NASDAQ:ALCO) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,000 shares of the company’s stock after selling 19,251 shares during the period. Alico accounts for about 2.3% of Towerview LLC’s holdings, making the stock its 8th biggest position. Towerview LLC’s holdings in Alico were worth $3,507,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ALCO. Raymond James Financial Inc. purchased a new position in Alico in the second quarter valued at about $28,000. BNP Paribas Financial Markets increased its stake in shares of Alico by 86.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company’s stock worth $36,000 after purchasing an additional 478 shares during the last quarter. Hanson & Doremus Investment Management purchased a new stake in shares of Alico during the 1st quarter worth approximately $43,000. Osaic Holdings Inc. raised its holdings in shares of Alico by 24.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,611 shares of the company’s stock worth $53,000 after purchasing an additional 314 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Alico by 792.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock worth $107,000 after purchasing an additional 2,917 shares during the period. Institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALCO. Freedom Capital downgraded Alico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Alico in a research report on Monday, April 20th. Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Roth Capital set a $45.00 price target on Alico and gave the company a “buy” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Alico Price Performance

ALCO opened at $41.12 on Friday. The company has a market capitalization of $305.11 million, a price-to-earnings ratio of -16.72 and a beta of 0.91. The company has a quick ratio of 9.39, a current ratio of 9.63 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $40.94 and a 200-day moving average price of $40.55. Alico, Inc. has a twelve month low of $31.32 and a twelve month high of $45.01.

Alico (NASDAQ:ALCO) last posted its quarterly earnings results on Monday, May 11th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.40. The company had revenue of $5.34 million for the quarter, compared to analyst estimates of $2.45 million. Alico had a negative net margin of 115.00% and a negative return on equity of 38.92%. Equities analysts expect that Alico, Inc. will post -3.52 EPS for the current year.

Alico Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, July 2nd. Alico’s payout ratio is currently -8.13%.

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.