Bard Associates Inc. Makes New $2.30 Million Investment in Alico, Inc. $ALCO

Key Points

• Bard Associates purchased 55,606 Alico shares worth approximately $2.3 million, giving it a 0.75% stake. Institutional investors collectively own 62.28% of the company.
• Analyst sentiment improved, with ratings upgraded to “hold” and “strong buy”; Alico has a consensus “Buy” rating and a $45 price target versus its recent $40.31 share price.
• Alico beat quarterly expectations with $0.29 in EPS versus the anticipated $0.74 loss and reported $9.04 million in revenue. The company also maintains a $0.05 quarterly dividend, equivalent to a 0.5% yield.

Bard Associates Inc. purchased a new stake in shares of Alico, Inc. (NASDAQ:ALCO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 55,606 shares of the company's stock, valued at approximately $2,300,000. Bard Associates Inc. owned approximately 0.75% of Alico as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in Alico by 45.2% during the second quarter. Rhumbline Advisers now owns 15,598 shares of the company's stock valued at $510,000 after buying an additional 4,859 shares during the period. American Century Companies Inc. bought a new position in Alico in the second quarter worth approximately $332,000. Raymond James Financial Inc. purchased a new stake in Alico during the second quarter worth $28,000. Jane Street Group LLC purchased a new stake in Alico during the second quarter worth $439,000. Finally, Tower Research Capital LLC TRC boosted its position in Alico by 792.7% during the 2nd 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 in the last quarter. Institutional investors own 62.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings upgraded Alico from a "sell (d)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Wall Street Zen raised Alico from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Freedom Capital raised Alico from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $45.00.

Alico Trading Up 2.1%

Shares of ALCO stock opened at $40.31 on Friday. Alico, Inc. has a fifty-two week low of $31.32 and a fifty-two week high of $45.01. The company has a 50 day moving average price of $40.11 and a 200 day moving average price of $40.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 7.93 and a current ratio of 7.96. The stock has a market capitalization of $299.10 million, a P/E ratio of 183.24 and a beta of 0.91.

Alico (NASDAQ:ALCO - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.74) by $1.03. The company had revenue of $9.04 million during 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%. Equities research analysts predict that Alico, Inc. will post -3.52 EPS for the current fiscal year.

Alico Dividend Announcement

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

Insider Activity

In other news, Director Eric H. Speron acquired 1,250 shares of Alico stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $39.73 per share, for a total transaction of $49,662.50. Following the completion of the purchase, the director owned 2,310 shares in the company, valued at $91,776.30. This represents a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.70% of the stock is currently owned by company insiders.

Alico Company Profile

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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