Alico, Inc. $ALCO Shares Newly Bought by Wavvest Wealth LLC

Wavvest Wealth LLC bought a new stake in shares of Alico, Inc. (NASDAQ:ALCO) in the third quarter, Holdings Channel reports. The fund bought 14,134 shares of the company’s stock, valued at approximately $545,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALCO. Ellsworth Advisors LLC increased its stake in shares of Alico by 1.4% during the 3rd quarter. Ellsworth Advisors LLC now owns 23,900 shares of the company’s stock worth $922,000 after purchasing an additional 329 shares during the last quarter. Byrne Asset Management LLC raised its holdings in shares of Alico by 6.3% in the 3rd quarter. Byrne Asset Management LLC now owns 5,328 shares of the company’s stock worth $204,000 after purchasing an additional 317 shares during the period. Bank of America Corp DE bought a new stake in shares of Alico in the 2nd quarter worth approximately $509,000. Legal & General Group Plc purchased a new position in Alico in the second quarter valued at approximately $26,000. Finally, Bard Associates Inc. purchased a new position in Alico in the second quarter valued at approximately $2,300,000. 62.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALCO has been the subject of several research reports. Freedom Capital raised Alico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Alico from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Alico presently has a consensus rating of “Buy” and an average target price of $45.00.

Insider Activity

In other Alico news, Director Eric Speron purchased 1,250 shares of the stock in a transaction dated Thursday, August 20th. The shares were bought at an average price of $39.73 per share, with a total value of $49,662.50. Following the completion of the transaction, the director directly owned 2,310 shares in the company, valued at approximately $91,776.30. This trade represents a 117.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.70% of the stock is currently owned by company insiders.

Alico Trading Down 0.9%

Shares of Alico stock opened at $37.01 on Thursday. Alico, Inc. has a 52-week low of $31.32 and a 52-week high of $45.01. The stock’s 50-day simple moving average is $39.22 and its 200 day simple moving average is $40.34. The stock has a market capitalization of $274.58 million, a P/E ratio of 168.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.93 and a current ratio of 7.96.

Alico (NASDAQ:ALCO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.74) by $1.03. The business had revenue of $9.04 million for the quarter, compared to the consensus estimate of $2.75 million. Alico had a net margin of 8.98% and a negative return on equity of 20.77%. As a group, research analysts anticipate that Alico, Inc. will post -3.27 EPS for the current year.

Alico Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Alico’s payout ratio is 90.91%.

Alico Company Profile

Alico, Inc (NASDAQ: ALCO) is an agribusiness and land management company focused primarily on citrus production in Florida. The company cultivates and manages citrus groves, producing oranges and other citrus varieties that are processed into juice and related products. Alico sells fruit to processors and markets its agricultural products through commercial relationships within the citrus industry.

In addition to citrus operations, Alico manages extensive Florida land holdings for agricultural, environmental, and other land-use purposes.