Alico (NASDAQ:ALCO) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Alico, Inc. (NASDAQ:ALCO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.03 and traded as high as $41.42. Alico shares last traded at $41.21, with a volume of 10,390 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALCO. Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research note on Monday, April 20th. Freedom Capital downgraded Alico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Roth Mkm set a $45.00 target price on Alico and gave the company a “buy” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alico presently has an average rating of “Hold” and a consensus price target of $45.00.

Alico Stock Performance

The stock has a 50-day simple moving average of $41.32 and a 200 day simple moving average of $39.03. The company has a debt-to-equity ratio of 0.80, a current ratio of 9.63 and a quick ratio of 9.39. The company has a market capitalization of $305.78 million, a PE ratio of -16.75 and a beta of 0.95.

Alico Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, April 3rd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, April 2nd. Alico’s payout ratio is presently -8.13%.

Hedge Funds Weigh In On Alico

A number of institutional investors have recently made changes to their positions in ALCO. Gate City Capital Management LLC raised its holdings in shares of Alico by 3.1% in the fourth quarter. Gate City Capital Management LLC now owns 1,297,679 shares of the company’s stock worth $47,210,000 after acquiring an additional 39,500 shares during the last quarter. Accordant Advisory Group Inc raised its holdings in shares of Alico by 39.4% in the fourth quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock worth $3,435,000 after acquiring an additional 26,688 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Alico in the fourth quarter worth $796,000. Redmont Wealth Advisors LLC acquired a new position in shares of Alico in the third quarter worth $648,000. Finally, Jane Street Group LLC acquired a new position in shares of Alico in the second quarter worth $439,000. 62.28% of the stock is owned by institutional investors and hedge funds.

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.