Alico (NASDAQ:ALCO) Stock Price Passes Above Two Hundred Day Moving Average of $27.41

Shares of Alico, Inc. (NASDAQ:ALCO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $27.41 and traded as high as $29.46. Alico shares last traded at $29.35, with a volume of 16,272 shares trading hands.

Alico Price Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.52 and a quick ratio of 1.05. The firm has a fifty day moving average of $28.50 and a two-hundred day moving average of $27.41. The stock has a market capitalization of $223.65 million, a P/E ratio of 4.66 and a beta of 0.85.

Alico (NASDAQ:ALCO) last posted its earnings results on Wednesday, February 7th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($2.06). Alico had a net margin of 110.84% and a negative return on equity of 14.09%. The company had revenue of $13.99 million during the quarter, compared to analysts’ expectations of $11.50 million. On average, analysts predict that Alico, Inc. will post -3.41 EPS for the current year.

Alico Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.20 annualized dividend and a yield of 0.68%. Alico’s dividend payout ratio (DPR) is presently 3.17%.

Hedge Funds Weigh In On Alico

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gate City Capital Management LLC purchased a new stake in shares of Alico during the fourth quarter worth about $20,583,000. Franklin Resources Inc. increased its holdings in shares of Alico by 218.7% during the first quarter. Franklin Resources Inc. now owns 144,843 shares of the company’s stock valued at $3,505,000 after acquiring an additional 99,393 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Alico by 21.8% during the first quarter. Vanguard Group Inc. now owns 271,083 shares of the company’s stock valued at $10,182,000 after acquiring an additional 48,583 shares in the last quarter. State Street Corp increased its holdings in shares of Alico by 263.8% during the second quarter. State Street Corp now owns 63,293 shares of the company’s stock valued at $2,266,000 after acquiring an additional 45,895 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Alico by 9.8% during the second quarter. BlackRock Inc. now owns 477,315 shares of the company’s stock valued at $12,152,000 after acquiring an additional 42,693 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

About Alico

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.