Allen Investment Management LLC Trims Stock Position in Alico, Inc. (NASDAQ:ALCO)

Key Points

• Allen Investment Management LLC has reduced its holdings in Alico, Inc. (NASDAQ:ALCO) by 47.7%, selling 19,285 shares and holding a total of 21,106 shares worth approximately $630,000.
• Alico reported a significant earnings miss with an EPS of ($10.98) for the latest quarter, falling short of the expected ($0.36) by ($10.62).
• Analysts have recently downgraded Alico from a "hold" rating to a "strong sell", indicating a bearish outlook on the company's stock.

Allen Investment Management LLC reduced its position in shares of Alico, Inc. (NASDAQ:ALCO - Free Report) by 47.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,106 shares of the company's stock after selling 19,285 shares during the period. Allen Investment Management LLC owned approximately 0.28% of Alico worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Alico by 8,107.1% during the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the company's stock worth $69,000 after buying an additional 2,270 shares during the period. Bank of America Corp DE boosted its stake in shares of Alico by 12.8% in the 4th quarter. Bank of America Corp DE now owns 18,224 shares of the company's stock worth $473,000 after buying an additional 2,067 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Alico in the 4th quarter worth approximately $675,000. Wells Fargo & Company MN boosted its stake in shares of Alico by 21.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,177 shares of the company's stock worth $134,000 after buying an additional 908 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of Alico in the 1st quarter worth approximately $597,000. Institutional investors own 62.28% of the company's stock.

Analyst Ratings Changes

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

Alico Stock Performance

Shares of ALCO stock traded up $0.21 during mid-day trading on Wednesday, reaching $32.56. 7,665 shares of the company's stock traded hands, compared to its average volume of 50,160. The firm has a market capitalization of $248.82 million, a PE ratio of -1.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.65 and a current ratio of 5.56. The firm has a 50 day moving average price of $32.03 and a two-hundred day moving average price of $30.48. Alico, Inc. has a 12 month low of $24.23 and a 12 month high of $34.31.

Alico (NASDAQ:ALCO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($10.98) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($10.62). The firm had revenue of $17.98 million during the quarter, compared to the consensus estimate of $22.20 million. Alico had a negative return on equity of 41.08% and a negative net margin of 284.75%. On average, research analysts forecast that Alico, Inc. will post -0.37 EPS for the current year.

Alico Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, June 27th. Alico's dividend payout ratio is currently -1.09%.

Alico Profile

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.