Key Points
- Alico Director Eric Speron purchased 1,250 shares at an average price of $39.73, investing $49,662.50 and increasing his holdings by 117.92% to 2,310 shares.
- Alico shares opened at $40.31, up 2.1%, while the company’s latest quarterly results significantly exceeded expectations, reporting $0.29 in earnings per share versus the consensus estimate of a $0.74 loss.
- Analyst sentiment has improved, with Alico receiving an average “Buy” rating and a $45 price target; institutional investors and hedge funds own 62.28% of the company.
Alico, Inc. (NASDAQ:ALCO - Get Free Report) Director Eric Speron purchased 1,250 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $39.73 per share, for a total transaction of $49,662.50. Following the transaction, the director owned 2,310 shares of the company's stock, valued at $91,776.30. The trade was a 117.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Alico Trading Up 2.1%
NASDAQ:ALCO opened at $40.31 on Friday. The stock has a fifty day simple moving average of $40.11 and a 200 day simple moving average of $40.71. The firm has a market capitalization of $299.06 million, a price-to-earnings ratio of 183.24 and a beta of 0.91. Alico, Inc. has a 1-year low of $31.32 and a 1-year high of $45.01. The company has a quick ratio of 7.93, a current ratio of 7.96 and a debt-to-equity ratio of 0.81.
Alico (NASDAQ:ALCO - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $1.03. Alico had a negative return on equity of 20.77% and a net margin of 8.98%.The company had revenue of $9.04 million for the quarter, compared to the consensus estimate of $2.75 million. Sell-side analysts forecast that Alico, Inc. will post -3.52 earnings per share for the current year.
Alico Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 2nd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 2nd. Alico's dividend payout ratio is currently 90.91%.
Hedge Funds Weigh In On Alico
Several large investors have recently added to or reduced their stakes in ALCO. Legal & General Group Plc acquired a new stake in shares of Alico during the 2nd quarter worth approximately $26,000. Raymond James Financial Inc. acquired a new position in shares of Alico in the second quarter valued at $28,000. BNP Paribas Financial Markets raised its stake in shares of Alico by 86.6% in the third quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company's stock valued at $36,000 after purchasing an additional 478 shares in the last quarter. Hanson & Doremus Investment Management bought a new position in Alico in the first quarter worth $43,000. Finally, Osaic Holdings Inc. boosted its stake in Alico by 24.2% during the second quarter. Osaic Holdings Inc. now owns 1,611 shares of the company's stock worth $53,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.
Analyst Ratings Changes
ALCO has been the topic of a number of research analyst reports. Weiss Ratings raised Alico from a "sell (d)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Freedom Capital upgraded Alico from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised Alico from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Alico has an average rating of "Buy" and an average target price of $45.00.
Check Out Our Latest Analysis on Alico
About Alico
(
Get Free Report)
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.
Further Reading
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