Alico (NASDAQ:ALCO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Alico (NASDAQ:ALCO) from a sell rating to a hold rating in a research note published on Saturday morning.

Other research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a research report on Monday, April 20th. Roth Mkm set a $45.00 target price on Alico and gave the company a “buy” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.00.

Alico Trading Down 1.9%

NASDAQ:ALCO opened at $40.17 on Friday. The stock has a 50-day simple moving average of $41.04 and a 200-day simple moving average of $38.67. The stock has a market cap of $298.06 million, a P/E ratio of -16.33 and a beta of 0.95. Alico has a 1 year low of $29.50 and a 1 year high of $45.01. The company has a debt-to-equity ratio of 0.80, a quick ratio of 13.02 and a current ratio of 9.63.

Alico Announces Dividend

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

Institutional Trading of Alico

A number of large investors have recently made changes to their positions in ALCO. Gate City Capital Management LLC boosted its position in shares of Alico by 3.1% in the 4th quarter. Gate City Capital Management LLC now owns 1,297,679 shares of the company’s stock valued at $47,210,000 after purchasing an additional 39,500 shares during the period. Accordant Advisory Group Inc raised its stake 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 last quarter. Squarepoint Ops LLC purchased a new stake in Alico during the 4th quarter valued at approximately $796,000. Redmont Wealth Advisors LLC purchased a new stake in Alico during the 3rd quarter valued at approximately $648,000. Finally, Jane Street Group LLC purchased a new stake in Alico during the 2nd quarter valued at approximately $439,000. 62.28% of the stock is 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.