BNP Paribas Arbitrage SA lowered its holdings in Alico, Inc. (NASDAQ:ALCO) by 51.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,179 shares of the company’s stock after selling 1,264 shares during the period. BNP Paribas Arbitrage SA’s holdings in Alico were worth $42,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. WINTON GROUP Ltd bought a new position in Alico in the second quarter worth about $293,000. Victory Capital Management Inc. bought a new position in Alico in the second quarter worth about $78,000. Advisors Asset Management Inc. lifted its holdings in Alico by 24.2% in the second quarter. Advisors Asset Management Inc. now owns 32,203 shares of the company’s stock worth $1,146,000 after acquiring an additional 6,272 shares during the last quarter. Marquette Asset Management LLC bought a new stake in shares of Alico during the second quarter valued at approximately $114,000. Finally, North Star Investment Management Corp. raised its holdings in shares of Alico by 1,445.0% during the second quarter. North Star Investment Management Corp. now owns 15,450 shares of the company’s stock valued at $550,000 after buying an additional 14,450 shares during the last quarter. 41.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Arlon Valencia Holdings Llc sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $35.92, for a total transaction of $269,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 65,999 shares of company stock worth $2,340,858 in the last quarter. Company insiders own 7.60% of the company’s stock.
Alico (NASDAQ:ALCO) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.18. Alico had a net margin of 48.47% and a return on equity of 1.59%. The business had revenue of $34.89 million for the quarter, compared to analyst estimates of $29.40 million. Sell-side analysts anticipate that Alico, Inc. will post 0.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, September 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, September 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.81%. Alico’s dividend payout ratio is presently -833.33%.
A number of equities research analysts have recently weighed in on ALCO shares. Zacks Investment Research cut Alico from a “hold” rating to a “sell” rating in a report on Monday, October 4th. Roth Capital lifted their price target on Alico from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 6th.
Alico Company Profile
Alico, Inc is a holding company, which engages in the provision of agribusiness and land management. The firm offers environmental services, land leasing, cattle ranching, and related support operations. It operates through the following segments: Alico Citrus, Land Management and Operations. The Alico Citrus segment includes activities related to planting, owning, cultivating, and managing citrus groves in order to produce fruit for sale to fresh, and processed citrus markets.
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