BNP Paribas Arbitrage SA decreased its stake in shares of Alico, Inc. (NASDAQ:ALCO) by 51.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Alico by 3.7% during the first quarter. BlackRock Inc. now owns 367,116 shares of the company’s stock worth $10,962,000 after purchasing an additional 13,190 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Alico by 22.3% in the first quarter. Deprince Race & Zollo Inc. now owns 200,228 shares of the company’s stock worth $5,979,000 after acquiring an additional 36,553 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Alico by 1.9% in the first quarter. Renaissance Technologies LLC now owns 116,996 shares of the company’s stock worth $3,494,000 after acquiring an additional 2,200 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alico by 7.7% in the first quarter. Geode Capital Management LLC now owns 71,577 shares of the company’s stock worth $2,137,000 after acquiring an additional 5,130 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Alico by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 43,315 shares of the company’s stock worth $1,294,000 after acquiring an additional 1,323 shares during the last quarter. 41.58% of the stock is currently owned by institutional investors and hedge funds.
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. In the last ninety days, insiders have sold 65,999 shares of company stock worth $2,340,858. Corporate insiders own 7.60% of the company’s stock.
Alico (NASDAQ:ALCO) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.18. The company had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $29.40 million. Alico had a return on equity of 1.59% and a net margin of 48.47%. As a group, analysts forecast that Alico, Inc. will post 0.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 24th were issued a dividend of $0.50 per share. The ex-dividend date 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 (DPR) is presently -833.33%.
A number of equities analysts have issued reports on ALCO shares. Zacks Investment Research cut shares of Alico from a “hold” rating to a “sell” rating in a report on Monday, October 4th. Roth Capital raised their target price on shares of Alico from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 6th.
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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