ALCO

Alico (ALCO) Declares $0.05 Dividend

Alico said on March 13, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.50 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.

At the current share price of $25.26 / share, the stock's dividend yield is 0.79%. Looking back five years and taking a sample every week, the average dividend yield has been 2.47%, the lowest has been 0.65%, and the highest has been 7.21%. The standard deviation of yields is 2.20 (n=235).

The current dividend yield is 0.76 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is -1.85. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.44%.

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Analyst Price Forecast Suggests 29.22% Upside

As of March 14, 2023, the average one-year price target for Alico is $32.64. The forecasts range from a low of $32.32 to a high of $33.60. The average price target represents an increase of 29.22% from its latest reported closing price of $25.26.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alico is $107MM, an increase of 22.24%. The projected annual non-GAAP EPS is $0.68.

What is the Fund Sentiment?

There are 221 funds or institutions reporting positions in Alico. This is a decrease of 5 owner(s) or 2.21% in the last quarter. Average portfolio weight of all funds dedicated to ALCO is 0.09%, a decrease of 13.62%. Total shares owned by institutions decreased in the last three months by 6.62% to 3,755K shares.

What are Large Shareholders Doing?

ALCO / Alico, Inc. Shares Held by Institutions

Pacific Ridge Capital Partners holds 197K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 201K shares, representing a decrease of 1.86%. The firm decreased its portfolio allocation in ALCO by 99.92% over the last quarter.

CM Management holds 190K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 175K shares, representing an increase of 7.89%. The firm decreased its portfolio allocation in ALCO by 1.83% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 170K shares representing 2.24% ownership of the company. In it's prior filing, the firm reported owning 128K shares, representing an increase of 24.65%. The firm increased its portfolio allocation in ALCO by 3.60% over the last quarter.

Towerview holds 152K shares representing 2.00% ownership of the company. In it's prior filing, the firm reported owning 65K shares, representing an increase of 57.18%. The firm increased its portfolio allocation in ALCO by 121.21% over the last quarter.

IWM - iShares Russell 2000 ETF holds 139K shares representing 1.83% ownership of the company. In it's prior filing, the firm reported owning 133K shares, representing an increase of 4.24%. The firm decreased its portfolio allocation in ALCO by 20.06% over the last quarter.

Alico Background Information
(This description is provided by the company.)

Alico, Inc. primarily operates two divisions: Alico Citrus, one of the nation's largest citrus producers, and Land Management and Other Operations, which includes environmental services, land leasing and related support operations.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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