Alico (NASDAQ:ALCO) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Alico, Inc. (NASDAQ:ALCO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $40.07 and traded as high as $41.23. Alico shares last traded at $40.63, with a volume of 18,455 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALCO shares. Freedom Capital lowered Alico from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Alico from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Alico in a research report on Monday, April 20th. Finally, Roth Mkm set a $45.00 price objective on shares of Alico and gave the company a “buy” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.00.

Alico Price Performance

The firm has a market cap of $310.23 million, a PE ratio of -17.00 and a beta of 0.92. The stock has a 50 day simple moving average of $41.12 and a two-hundred day simple moving average of $40.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 9.39 and a current ratio of 9.63.

Alico (NASDAQ:ALCO) last issued its earnings results on Monday, May 11th. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.40. The firm had revenue of $5.34 million for the quarter, compared to the consensus estimate of $2.45 million. Alico had a negative return on equity of 38.92% and a negative net margin of 115.00%. Sell-side analysts expect that Alico, Inc. will post -3.52 earnings per share for the current year.

Alico Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. Alico’s dividend payout ratio (DPR) is presently -8.13%.

Hedge Funds Weigh In On Alico

Several large investors have recently made changes to their positions in ALCO. Raymond James Financial Inc. purchased a new stake in Alico during the second quarter worth $28,000. BNP Paribas Financial Markets raised its holdings in Alico by 86.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company’s stock worth $36,000 after purchasing an additional 478 shares during the period. Hanson & Doremus Investment Management purchased a new position in Alico during the first quarter worth approximately $43,000. Osaic Holdings Inc. boosted its position in Alico by 24.2% during the second quarter. Osaic Holdings Inc. now owns 1,611 shares of the company’s stock worth $53,000 after purchasing an additional 314 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Alico by 792.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock valued at $107,000 after purchasing an additional 2,917 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

About Alico

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.