Alico (NASDAQ:ALCO) Downgraded by Freedom Capital to “Hold”

Freedom Capital lowered shares of Alico (NASDAQ:ALCO) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

A number of other research firms have also weighed in on ALCO. Weiss Ratings reissued a “sell (d)” rating on shares of Alico in a research note on Monday, April 20th. Roth Mkm set a $45.00 price target on shares of Alico and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Alico from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alico has a consensus rating of “Hold” and a consensus price target of $45.00.

Alico Stock Down 1.9%

Shares of NASDAQ:ALCO opened at $40.17 on Thursday. Alico has a 12-month low of $29.50 and a 12-month high of $45.01. The company has a current ratio of 9.63, a quick ratio of 13.02 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average price is $41.04 and its 200-day moving average price is $38.67. The stock has a market capitalization of $298.06 million, a P/E ratio of -16.33 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 issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.20 annualized dividend and a yield of 0.5%. Alico’s payout ratio is -8.13%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Gate City Capital Management LLC raised its holdings in shares of Alico by 3.1% during the fourth quarter. Gate City Capital Management LLC now owns 1,297,679 shares of the company’s stock valued at $47,210,000 after purchasing an additional 39,500 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Alico by 1.6% in the third quarter. Vanguard Group Inc. now owns 259,666 shares of the company’s stock worth $9,000,000 after purchasing an additional 4,064 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alico by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 138,611 shares of the company’s stock worth $5,045,000 after purchasing an additional 4,714 shares in the last quarter. Peapod Lane Capital LLC grew its stake in Alico by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 133,701 shares of the company’s stock valued at $4,864,000 after acquiring an additional 983 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its stake in Alico by 39.4% during the fourth quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock valued at $3,435,000 after acquiring an additional 26,688 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

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.