Alico (NASDAQ:ALCO) Director Henry R. Slack Sells 24,789 Shares

Key Points

• Henry Slack, a director of Alico, Inc. (NASDAQ:ALCO), sold 24,789 shares of the company's stock at an average price of $32.83, totaling approximately $813,823, which reduced his ownership by 37.31%.
• Alico reported a significant financial miss, with earnings per share at ($2.39), missing estimates by $1.30, and revenues of $8.39 million compared to expected $16.90 million.
• The company declared a quarterly dividend of $0.05 per share, representing a nominal annualized dividend yield of 0.6%, despite a current negative payout ratio of -0.97%.

Alico, Inc. (NASDAQ:ALCO - Get Free Report) Director Henry R. Slack sold 24,789 shares of Alico stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $32.83, for a total transaction of $813,822.87. Following the sale, the director owned 41,649 shares of the company's stock, valued at approximately $1,367,336.67. This represents a 37.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alico Trading Up 2.3%

Shares of ALCO stock traded up $0.79 during trading hours on Friday, hitting $34.87. The company had a trading volume of 37,854 shares, compared to its average volume of 28,840. The company has a debt-to-equity ratio of 0.72, a current ratio of 9.37 and a quick ratio of 8.87. The stock has a market capitalization of $266.58 million, a PE ratio of -1.70 and a beta of 1.01. The company's fifty day moving average is $32.52 and its 200 day moving average is $30.71. Alico, Inc. has a fifty-two week low of $24.23 and a fifty-two week high of $34.87.

Alico (NASDAQ:ALCO - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($1.30). Alico had a negative net margin of 355.13% and a negative return on equity of 58.27%. The company had revenue of $8.39 million during the quarter, compared to analyst estimates of $16.90 million. Research analysts expect that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

Alico Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.20 annualized dividend and a yield of 0.6%. Alico's dividend payout ratio is presently -0.97%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Alico

Several large investors have recently bought and sold shares of the stock. Peapod Lane Capital LLC raised its position in Alico by 0.3% in the 2nd quarter. Peapod Lane Capital LLC now owns 131,265 shares of the company's stock valued at $4,290,000 after purchasing an additional 434 shares in the last quarter. PNC Financial Services Group Inc. increased 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 buying an additional 464 shares during the period. Transcend Capital Advisors LLC grew its stake in shares of Alico by 5.6% during the second quarter. Transcend Capital Advisors LLC now owns 12,033 shares of the company's stock worth $393,000 after purchasing an additional 639 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Alico during the second quarter worth $28,000. Finally, Wells Fargo & Company MN grew its stake in shares of Alico by 21.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,177 shares of the company's stock worth $134,000 after purchasing an additional 908 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Alico Company 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.