18,682 Shares in Alico, Inc. $ALCO Purchased by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC bought a new position in Alico, Inc. (NASDAQ:ALCO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 18,682 shares of the company’s stock, valued at approximately $648,000.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Alico during the second quarter valued at about $28,000. Nisa Investment Advisors LLC grew its stake in Alico by 24.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,506 shares of the company’s stock valued at $52,000 after acquiring an additional 294 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Alico by 24.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,611 shares of the company’s stock worth $53,000 after acquiring an additional 314 shares during the period. Tower Research Capital LLC TRC increased its holdings in Alico by 792.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock worth $107,000 after acquiring an additional 2,917 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Alico in the 2nd quarter worth approximately $268,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ALCO. Weiss Ratings restated a “sell (d)” rating on shares of Alico in a research report on Wednesday, January 21st. Roth Mkm reissued a “buy” rating and set a $42.00 price objective on shares of Alico in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.00.

Alico Trading Down 1.9%

Shares of ALCO opened at $40.33 on Thursday. Alico, Inc. has a 1-year low of $27.02 and a 1-year high of $43.20. The company has a market capitalization of $308.93 million, a P/E ratio of -2.18 and a beta of 1.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 14.39 and a quick ratio of 13.02. The firm’s 50 day simple moving average is $38.76 and its 200 day simple moving average is $35.60.

Alico (NASDAQ:ALCO) last issued its quarterly earnings results on Wednesday, February 4th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.92). The company had revenue of $1.89 million during the quarter, compared to the consensus estimate of $3.22 million. Alico had a negative return on equity of 101.66% and a negative net margin of 487.45%. Sell-side analysts forecast 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, January 16th. Investors of record on Friday, January 2nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, January 2nd. Alico’s dividend payout ratio is currently -1.08%.

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.