Alico (NASDAQ:ALCO) Shares Pass Above 200 Day Moving Average - Here's What Happened

Alico, Inc. (NASDAQ:ALCO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.00 and traded as high as $27.08. Alico shares last traded at $26.58, with a volume of 25,888 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Alico to a "sell" rating in a research note on Thursday, August 29th.

Alico Stock Down 0.9 %

The stock has a fifty day moving average price of $27.04 and a two-hundred day moving average price of $27.00. The company has a market cap of $200.82 million, a price-to-earnings ratio of 7.70 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 2.67 and a debt-to-equity ratio of 0.30.

Alico (NASDAQ:ALCO - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). Alico had a negative return on equity of 6.72% and a net margin of 56.13%. The business had revenue of $13.61 million during the quarter, compared to analyst estimates of $17.80 million. As a group, sell-side analysts expect that Alico, Inc. will post -5.6 EPS for the current year.

Alico Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.20 annualized dividend and a yield of 0.76%. Alico's dividend payout ratio is presently 5.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Alico by 57.0% during the first quarter. Vanguard Group Inc. now owns 160,913 shares of the company's stock worth $4,712,000 after buying an additional 58,428 shares in the last quarter. Acuitas Investments LLC increased its stake in Alico by 19.3% in the second quarter. Acuitas Investments LLC now owns 88,513 shares of the company's stock valued at $2,293,000 after acquiring an additional 14,291 shares during the last quarter. CM Management LLC increased its stake in Alico by 4.7% in the second quarter. CM Management LLC now owns 225,000 shares of the company's stock valued at $5,830,000 after acquiring an additional 10,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Alico by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 429,309 shares of the company's stock valued at $11,124,000 after purchasing an additional 8,306 shares in the last quarter. Finally, Accordant Advisory Group Inc lifted its stake in Alico by 49.6% during the third quarter. Accordant Advisory Group Inc now owns 24,657 shares of the company's stock worth $690,000 after purchasing an additional 8,176 shares during the last quarter. Institutional investors own 62.28% of the company's stock.

Alico Company Profile

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.