Bank of New York Mellon Corp Has $1.11 Million Position in Alico, Inc. (NASDAQ:ALCO)

Bank of New York Mellon Corp lowered its position in shares of Alico, Inc. (NASDAQ:ALCO - Free Report) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,637 shares of the company's stock after selling 12,606 shares during the quarter. Bank of New York Mellon Corp owned 0.56% of Alico worth $1,106,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ALCO. Peapod Lane Capital LLC acquired a new stake in shares of Alico in the fourth quarter worth $3,380,000. Abundance Wealth Counselors acquired a new stake in Alico during the 4th quarter worth about $286,000. Geode Capital Management LLC boosted its position in Alico by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 145,535 shares of the company's stock worth $4,071,000 after acquiring an additional 9,366 shares during the period. Harbor Advisors LLC purchased a new position in Alico during the 3rd quarter valued at about $215,000. Finally, Barclays PLC increased its holdings in shares of Alico by 229.2% in the 3rd quarter. Barclays PLC now owns 9,336 shares of the company's stock valued at $261,000 after purchasing an additional 6,500 shares during the period. Hedge funds and other institutional investors own 62.28% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Alico to a "sell" rating in a report on Friday, February 14th.

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Alico Stock Down 1.6 %

Shares of NASDAQ:ALCO traded down $0.49 during trading on Friday, reaching $29.43. 21,231 shares of the company traded hands, compared to its average volume of 36,493. The firm has a fifty day simple moving average of $29.83 and a 200 day simple moving average of $27.91. The company has a quick ratio of 2.37, a current ratio of 4.84 and a debt-to-equity ratio of 0.42. Alico, Inc. has a 1-year low of $24.14 and a 1-year high of $34.08. The firm has a market cap of $224.79 million, a P/E ratio of -4.97 and a beta of 0.81.

Alico (NASDAQ:ALCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.93) by ($0.27). Alico had a negative net margin of 91.09% and a negative return on equity of 3.01%. Analysts anticipate that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

Alico Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. Alico's payout ratio is -3.38%.

About Alico

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.