Wavvest Wealth LLC Makes New Investment in Alico, Inc. $ALCO

Wavvest Wealth LLC purchased a new stake in Alico, Inc. (NASDAQ:ALCO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,134 shares of the company’s stock, valued at approximately $545,000. Wavvest Wealth LLC owned about 0.19% of Alico at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ALCO. BlackRock Inc. purchased a new position in Alico during the 2nd quarter worth $18,428,000. Oak Family Advisors LLC raised its holdings in shares of Alico by 6.3% in the first quarter. Oak Family Advisors LLC now owns 61,300 shares of the company’s stock valued at $2,529,000 after purchasing an additional 3,645 shares during the last quarter. Bard Associates Inc. purchased a new stake in shares of Alico in the second quarter valued at about $2,300,000. Bank of New York Mellon Corp purchased a new stake in shares of Alico in the second quarter valued at about $2,268,000. Finally, Ellsworth Advisors LLC lifted its position in shares of Alico by 1.4% during the third quarter. Ellsworth Advisors LLC now owns 23,900 shares of the company’s stock valued at $922,000 after purchasing an additional 329 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Alico from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Freedom Capital upgraded shares of Alico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $45.00.

Alico Stock Performance

Shares of ALCO opened at $37.01 on Thursday. The stock has a 50 day moving average of $39.22 and a 200 day moving average of $40.34. The company has a market capitalization of $274.58 million, a price-to-earnings ratio of 168.23 and a beta of 0.91. Alico, Inc. has a 12 month low of $31.32 and a 12 month high of $45.01. The company has a current ratio of 7.96, a quick ratio of 7.93 and a debt-to-equity ratio of 0.81.

Alico (NASDAQ:ALCO) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $1.03. The business had revenue of $9.04 million for the quarter, compared to analyst estimates of $2.75 million. Alico had a negative return on equity of 20.77% and a net margin of 8.98%. As a group, sell-side analysts forecast that Alico, Inc. will post -3.27 earnings per share for the current year.

Alico Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 2nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Alico’s dividend payout ratio (DPR) is currently 90.91%.

Insider Activity at Alico

In other Alico news, Director Eric Speron bought 1,250 shares of the stock in a transaction dated Thursday, August 20th. The shares were bought at an average cost of $39.73 per share, for a total transaction of $49,662.50. Following the purchase, the director directly owned 2,310 shares of the company’s stock, valued at approximately $91,776.30. This trade represents a 117.92% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.70% of the stock is owned by insiders.

About Alico

Alico, Inc (NASDAQ: ALCO) is an agribusiness and land management company focused primarily on citrus production in Florida. The company cultivates and manages citrus groves, producing oranges and other citrus varieties that are processed into juice and related products. Alico sells fruit to processors and markets its agricultural products through commercial relationships within the citrus industry.

In addition to citrus operations, Alico manages extensive Florida land holdings for agricultural, environmental, and other land-use purposes.