Bank of New York Mellon Corp Sells 12,606 Shares of Alico, Inc. (NASDAQ:ALCO)

Bank of New York Mellon Corp cut its stake in Alico, Inc. (NASDAQ:ALCO) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,637 shares of the company’s stock after selling 12,606 shares during the period. Bank of New York Mellon Corp owned about 0.56% of Alico worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALCO. Harbor Advisors LLC bought a new stake in shares of Alico in the third quarter valued at about $215,000. Barclays PLC grew its position in shares of Alico by 229.2% in the 3rd quarter. Barclays PLC now owns 9,336 shares of the company’s stock worth $261,000 after buying an additional 6,500 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in shares of Alico by 6.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,670 shares of the company’s stock worth $277,000 after acquiring an additional 684 shares in the last quarter. Abundance Wealth Counselors purchased a new stake in Alico during the fourth quarter valued at approximately $286,000. Finally, JPMorgan Chase & Co. lifted its position in Alico by 50.9% during the third quarter. JPMorgan Chase & Co. now owns 13,140 shares of the company’s stock valued at $368,000 after acquiring an additional 4,432 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

Alico Trading Up 1.1 %

Shares of NASDAQ:ALCO opened at $29.13 on Tuesday. The business’s 50-day moving average is $29.91 and its 200 day moving average is $27.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.84 and a quick ratio of 2.37. Alico, Inc. has a 1 year low of $24.14 and a 1 year high of $34.08. The firm has a market capitalization of $222.49 million, a P/E ratio of -4.92 and a beta of 0.81.

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

Alico Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, March 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. Alico’s payout ratio is currently -3.38%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Alico to a “sell” rating in a research report on Friday, February 14th.

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.