Alico (NASDAQ:ALCO) Shares Pass Above 200 Day Moving Average - Here's Why

Alico, Inc. (NASDAQ:ALCO - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.83 and traded as high as $32.34. Alico shares last traded at $32.24, with a volume of 25,240 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Alico from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd.

Alico Trading Down 0.4%

The company has a 50 day moving average of $29.72 and a two-hundred day moving average of $28.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.37 and a current ratio of 4.84. The stock has a market capitalization of $245.46 million, a PE ratio of -5.43 and a beta of 0.98.

Alico (NASDAQ:ALCO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($10.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($10.62). The company had revenue of $17.98 million during the quarter, compared to analyst estimates of $22.20 million. Alico had a negative net margin of 91.09% and a negative return on equity of 3.01%. Sell-side analysts predict that Alico, Inc. will post -0.37 EPS for the current year.

Alico Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, March 28th. This represents a $0.20 annualized dividend and a yield of 0.62%. Alico's dividend payout ratio (DPR) is presently -1.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALCO. Peapod Lane Capital LLC increased its stake in Alico by 0.4% during the first quarter. Peapod Lane Capital LLC now owns 130,831 shares of the company's stock worth $3,904,000 after purchasing an additional 461 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Alico by 21.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,591 shares of the company's stock worth $77,000 after purchasing an additional 464 shares during the last quarter. Transcend Capital Advisors LLC raised its position in Alico by 6.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,670 shares of the company's stock worth $277,000 after acquiring an additional 684 shares in the last quarter. Empowered Funds LLC raised its position in Alico by 5.1% in the fourth quarter. Empowered Funds LLC now owns 16,607 shares of the company's stock worth $431,000 after acquiring an additional 810 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Alico by 21.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,177 shares of the company's stock valued at $134,000 after purchasing an additional 908 shares during the last quarter. Institutional investors and hedge funds 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.