Redmont Wealth Advisors LLC Makes New Investment in Alico, Inc. $ALCO

Redmont Wealth Advisors LLC acquired a new stake in Alico, Inc. (NASDAQ:ALCO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,682 shares of the company’s stock, valued at approximately $648,000. Redmont Wealth Advisors LLC owned about 0.24% of Alico as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Alico by 1.6% in the third quarter. Vanguard Group Inc. now owns 259,666 shares of the company’s stock valued at $9,000,000 after acquiring an additional 4,064 shares in the last quarter. Transcend Capital Advisors LLC increased its position in shares of Alico by 4.7% during the 3rd quarter. Transcend Capital Advisors LLC now owns 12,594 shares of the company’s stock valued at $437,000 after purchasing an additional 561 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Alico by 24.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,506 shares of the company’s stock worth $52,000 after purchasing an additional 294 shares during the period. Oak Family Advisors LLC boosted its holdings in shares of Alico by 9.8% in the 3rd quarter. Oak Family Advisors LLC now owns 51,417 shares of the company’s stock worth $1,782,000 after buying an additional 4,569 shares during the last quarter. Finally, Accordant Advisory Group Inc boosted its holdings in shares of Alico by 34.9% in the 3rd quarter. Accordant Advisory Group Inc now owns 67,723 shares of the company’s stock worth $2,347,000 after buying an additional 17,521 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

Alico Price Performance

NASDAQ ALCO opened at $40.33 on Thursday. The company has a quick ratio of 13.02, a current ratio of 14.39 and a debt-to-equity ratio of 0.82. The company has a market cap of $308.93 million, a PE ratio of -2.18 and a beta of 1.02. Alico, Inc. has a 52 week low of $27.02 and a 52 week high of $43.20. The firm’s 50-day simple moving average is $38.76 and its two-hundred day simple moving average is $35.60.

Alico (NASDAQ:ALCO) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.92). The business had revenue of $1.89 million during the quarter, compared to the consensus estimate of $3.22 million. Alico had a negative net margin of 487.45% and a negative return on equity of 101.66%. Research analysts predict that Alico, Inc. will post -0.37 earnings per share for the current year.

Alico Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.05 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Alico’s dividend payout ratio is currently -1.08%.

Analyst Upgrades and Downgrades

ALCO has been the subject of a number of research analyst reports. Roth Mkm restated a “buy” rating and set a $42.00 price objective on shares of Alico in a report on Wednesday, November 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Alico in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alico presently has an average rating of “Hold” and a consensus target price of $42.00.

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.