Alico (NASDAQ:ALCO) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Alico, Inc. (NASDAQ:ALCO) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $39.52 and traded as high as $41.40. Alico shares last traded at $40.72, with a volume of 20,624 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on ALCO. Roth Mkm set a $45.00 price objective on Alico and gave the company a “buy” rating in a research note on Friday, March 27th. Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Freedom Capital lowered Alico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alico has a consensus rating of “Hold” and an average target price of $45.00.

Alico Trading Up 0.6%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 9.39 and a current ratio of 9.63. The company has a 50 day moving average of $41.67 and a two-hundred day moving average of $39.66. The stock has a market cap of $307.26 million, a PE ratio of -16.83 and a beta of 0.92.

Alico Dividend Announcement

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

Institutional Investors Weigh In On Alico

Several large investors have recently bought and sold shares of the company. Gate City Capital Management LLC increased its stake in Alico by 3.1% during the 4th quarter. Gate City Capital Management LLC now owns 1,297,679 shares of the company’s stock worth $47,210,000 after buying an additional 39,500 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alico by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 259,666 shares of the company’s stock worth $9,000,000 after purchasing an additional 4,064 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alico by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 138,611 shares of the company’s stock worth $5,045,000 after purchasing an additional 4,714 shares during the last quarter. Peapod Lane Capital LLC increased its position in shares of Alico by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 133,701 shares of the company’s stock worth $4,864,000 after purchasing an additional 983 shares during the last quarter. Finally, Accordant Advisory Group Inc increased its position in shares of Alico by 39.4% during the 4th quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock worth $3,435,000 after purchasing an additional 26,688 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

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.