Alico, Inc. Plans Quarterly Dividend of $0.05 (NASDAQ:ALCO)

Alico, Inc. (NASDAQ:ALCO) declared a quarterly dividend on Thursday, March 14th, Wall Street Journal reports. Stockholders of record on Thursday, March 28th will be given a dividend of 0.05 per share on Thursday, April 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, March 27th.

Alico has decreased its dividend by an average of 23.7% per year over the last three years. Alico has a payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alico to earn $0.43 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 46.5%.

Alico Stock Down 0.1 %

Alico stock traded down $0.02 during midday trading on Tuesday, hitting $28.61. 509 shares of the company were exchanged, compared to its average volume of 27,276. The company’s fifty day moving average price is $28.47 and its 200-day moving average price is $27.36. The company has a market cap of $218.01 million, a PE ratio of 4.54 and a beta of 0.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.52 and a quick ratio of 1.05. Alico has a fifty-two week low of $22.58 and a fifty-two week high of $31.00.

Alico (NASDAQ:ALCO) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($0.29) by ($2.06). The company had revenue of $13.99 million for the quarter, compared to analyst estimates of $11.50 million. Alico had a negative return on equity of 14.09% and a net margin of 110.84%. On average, research analysts predict that Alico will post -3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Alico

A number of institutional investors have recently made changes to their positions in ALCO. FMR LLC raised its position in shares of Alico by 34.4% in the 1st quarter. FMR LLC now owns 1,728 shares of the company’s stock valued at $42,000 after purchasing an additional 442 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Alico by 10,525.0% in the 2nd quarter. Citigroup Inc. now owns 2,125 shares of the company’s stock valued at $54,000 after acquiring an additional 2,105 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Alico by 78.9% in the 4th quarter. BNP Paribas Financial Markets now owns 1,989 shares of the company’s stock valued at $58,000 after acquiring an additional 877 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Alico by 1,503.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,700 shares of the company’s stock valued at $61,000 after acquiring an additional 1,594 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC increased its holdings in shares of Alico by 77.1% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 3,010 shares of the company’s stock valued at $85,000 after acquiring an additional 1,310 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

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.