Alico (NASDAQ:ALCO) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Separately, ValuEngine upgraded shares of Alico from a “hold” rating to a “buy” rating in a report on Friday, October 19th.
Shares of ALCO stock opened at $33.11 on Thursday. Alico has a 12 month low of $25.55 and a 12 month high of $34.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 5.02 and a quick ratio of 3.11.
In other Alico news, insider George R. Brokaw sold 524,795 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $34.00, for a total value of $17,843,030.00. Following the transaction, the insider now owns 372,701 shares in the company, valued at approximately $12,671,834. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 60.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of ALCO. Schwab Charles Investment Management Inc. raised its stake in shares of Alico by 14.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 27,195 shares of the company’s stock valued at $863,000 after purchasing an additional 3,532 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Alico by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 67,291 shares of the company’s stock valued at $2,133,000 after purchasing an additional 3,800 shares in the last quarter. Towerview LLC raised its stake in shares of Alico by 25.2% in the 3rd quarter. Towerview LLC now owns 82,541 shares of the company’s stock valued at $2,790,000 after purchasing an additional 16,628 shares in the last quarter. BlackRock Inc. raised its stake in shares of Alico by 3.0% in the 2nd quarter. BlackRock Inc. now owns 242,566 shares of the company’s stock valued at $7,690,000 after purchasing an additional 7,053 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Alico by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 329,262 shares of the company’s stock valued at $8,956,000 after purchasing an additional 16,302 shares in the last quarter. Hedge funds and other institutional investors own 74.74% 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 through three segments: Alico Citrus, Conservation and Environmental Resources, and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruits for sale to fresh and processed citrus markets; and contracting for the harvesting, marketing, and hauling of citrus.
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