54,817 Shares in Alico, Inc. $ALCO Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 54,817 Alico shares in the second quarter, valued at approximately $2.27 million and representing 0.74% of the company. Institutional investors and hedge funds collectively own 62.28% of Alico.
• Analyst sentiment improved, with multiple firms upgrading Alico; the stock carries a consensus “Buy” rating and an average price target of $45.00.
• Alico reported quarterly EPS of $0.29, beating estimates by $1.03, on revenue of $9.04 million. The company also maintains a quarterly dividend of $0.05 per share, equivalent to a 0.5% annual yield.

Bank of New York Mellon Corp bought a new stake in Alico, Inc. (NASDAQ:ALCO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 54,817 shares of the company's stock, valued at approximately $2,268,000. Bank of New York Mellon Corp owned 0.74% of Alico as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Alico during the 2nd quarter worth approximately $28,000. BNP Paribas Financial Markets lifted its position in shares of Alico by 86.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company's stock worth $36,000 after buying an additional 478 shares during the last quarter. Hanson & Doremus Investment Management bought a new stake in shares of Alico during the 1st quarter worth $43,000. Osaic Holdings Inc. boosted its stake in Alico by 24.2% in the second quarter. Osaic Holdings Inc. now owns 1,611 shares of the company's stock valued at $53,000 after buying an additional 314 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Alico by 792.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company's stock valued at $107,000 after acquiring an additional 2,917 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Freedom Capital raised Alico from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Alico from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of Alico from a "sell (d)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $45.00.

Alico Price Performance

Shares of NASDAQ:ALCO opened at $40.43 on Tuesday. The firm has a market cap of $299.99 million, a P/E ratio of 183.78 and a beta of 0.92. Alico, Inc. has a 12-month low of $31.32 and a 12-month high of $45.01. The business has a fifty day simple moving average of $40.06 and a 200 day simple moving average of $40.65. The company has a quick ratio of 7.93, a current ratio of 7.96 and a debt-to-equity ratio of 0.81.

Alico (NASDAQ:ALCO - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of ($0.74) by $1.03. The firm had revenue of $9.04 million for the quarter, compared to analyst estimates of $2.75 million. Alico had a negative return on equity of 20.77% and a net margin of 8.98%. Analysts predict that Alico, Inc. will post -3.52 earnings per share for the current year.

Alico Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.20 annualized dividend and a yield of 0.5%. Alico's dividend payout ratio (DPR) is presently 90.91%.

Insider Transactions at Alico

In other news, Director Eric Speron purchased 1,250 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $39.73 per share, for a total transaction of $49,662.50. Following the transaction, the director owned 2,310 shares of the company's stock, valued at approximately $91,776.30. This trade represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 6.70% of the company's stock.

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.

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