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Alico, Inc. (ALCO)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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35.93-0.46 (-1.26%)
At close: 04:00PM EST
35.93 0.00 (0.00%)
After hours: 04:01PM EST
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  • Y
    Yahoo Finance Insights
    Alico reached a 52 Week high at 39.03
  • c
    charlesbrenner
    I've been in and out of this stock three times in the last thirty years. I sold out five years ago and have yet to buy back. I had hoped new ownership might be better, but the story remains unchanged. First Ben Hill Griffin III, dominated the company to the detriment of his four sisters. Then, when the sisters wrested control from him, they put Husband John Alexander in charge and we got more of the same for a decade. Finally, the Griffin sisters sold out to Remy Trafelet, Brokaw and 734. Lots of happy talk about rationalizing company, growing earnings and reaping some of the "hidden" value. Now, we find out these fellas are at odds with each other and taking their money out of the company with a tender offer.

    Is there any possibility that they will make money growing oranges? Will shareholders ever see the underlying value of the land realized?

    Farming is an incredibly competitive business. Do these guys know what they are doing or is this just one more milk and dump scheme?
  • w
    wbart21
    Expect 8-k registration of Remy's shares today/tonight. Big overhang of potential supply.No wonder investors remain dis-interested despite encouraging financial trends this Q. Then again, look @ volume, investors have never been very interested.
  • M
    Martin
    Maybe I wanted to hear it so badly that my ears betrayed my mind in order to secure my heart. http://dataunion.tistory.com/10789 I never think of the future. It comes soon enough.
  • c
    charlesbrenner
    Wbart,
    Thanks for pointing out the water storage income cited in the latest 10Q. Looks like ALCO could earn $3 share on oranges and another $1.40 on water. That would make the current $30 price look cheap. Wonder why the stock fell a buck today? Management pays itself a lot and can't be trusted to share the wealth with minority shareholders? Dorian threatens to damage the oranges? They did receive this month $5M as the first of three payments from the gov't to cover Irma damages from two years ago. It would be nice to see the company tender for more shares.
  • h
    howdy
    So question to longs. This stock pays like slightly over 1% divy. It seems like the price stays pretty much in this area. Whats the big thing with this stock? Ive heard their "land holding" etc but really whats the reason you own it?
  • w
    wbart21
    Either I missed Remy's share registration per Settlement Agreement or they were registered w/o public filing(?). Either way as expected Remy's been selling regularly since April. His 13-D was filed within past month.
    4/10/2019 3,000 $ 27.70 $ 82,931
    4/11/2019 657 $ 27.80 $ 18,225
    4/22/2019 1,657 $ 27.35 $ 45,219
    4/24/2019 3,000 $ 27.06 $ 80,984
    5/8/2019 29,579 $ 27.09 $ 798,914
    5/9/2019 3,000 $ 27.00 $ 80,818
    5/13/2019 8,642 $ 27.02 $ 233,002
    5/14/2019 3,200 $ 27.00 $ 86,207
    8/28/2019 1,812 $ 31.10 $ 56,253
    8/29/2019 500 $ 31.02 $ 15,427
    8/30/2019 2 $ 31.00 $ 54
    9/9/2019 3,897 $ 31.09 $ 120,948
    9/10/2019 5,000 $ 31.38 $ 156,621
    9/11/2019 820 $ 31.85 $ 26,039
    9/12/2019 4,500 $ 32.46 $ 145,849
    9/13/2019 5,000 $ 32.79 $ 163,696
    9/16/2019 5,000 $ 33.38 $ 166,625
    9/17/2019 5,000 $ 34.00 $ 169,755
  • w
    wbart21
    Well past the deadline to register Remy's 400k shares as mandated by the settlement agreement reached earlier this year.
    if Remy backed off that requirement, why hasn't an 8-k been filed reflecting details of the amendment? Also, where's the final permitting from Fla? The 10-K guided for those permits by April,if I recall correctly,perhaps May. The US Gov't increased funding for Everglades Preservation,etc up to $60mm+/year which matched Fla's funding,but was 3x what the FEDs had been expected to provide. Press down here in Fla over the past couple months touted our Legislature's advancement(ie,permitting & funding) of the watershed effort. I've reached out to John(we've spoken in past) on these issues and have received no call back. Any one else having these difficulties with communications on publicly guided matters or have thoughts on these 2 matters?
  • M
    MIGUEL
    Finally a dividend increase for shareholders……and a lift to share price that was long overdue
    Bullish
  • t
    tarponking62
    If you look the money for dividend increase is coming from sale of land and increase contract prices. Production continues to fall and citrus manager has failed to address issue, especially fruit drop which continues to reduce production
    Bearish
  • S
    Sean
    Please vote on a proposal to at least triple the salary for Peter M. the Exec. Chairman. The poor guy is working so hard, probably 24x7 or even 24x365 and the stock price shows that. All in favor please raise your hand/leg.
  • B
    BuzzyBuzzyear
    over-priced OJ producer trying to pass themselves off as a real estate developer. all the land they have sold at rock bottom prices to developers or the state of Florida.
  • w
    wbart21
    ehhhh gads that's a lot of potential supply available had no clue the holding pship w/b dissolved nice Q by ALCO nonetheless if ALCO doesn't do a SHRP here, given all the supply, then I'll grow concerned they feel stock is expensive and will be able to be bought cheaper going forward
  • c
    charlesbrenner
    Now that all the dust has settled, ALCO is a company that projects earning $1.00 - $1.50 per share and pays a dividend of $0.72 per year. In this current low interest rate environment, a 2.3% dividend is not bad, but where is the upside?

    If $5,000 per acre is the correct value of citrus acreage in Florida, then the company is trading very close to full asset value. If and when interest rates eventually rise, the dividend will be less attractive. If rates stay low, farmers all over the world will be incentivized to keep planting more trees and the price of oranges will continue to be under pressure.

    Unless there is some hidden value here, I am not that interested in owning a commodity orange farm at the current $31 share price. Call me when it gets down to $20.
  • S
    Savannah
    Alico, Inc. (ALCO) Annual Report Available on 10-K
    https://sec.report/Document/0000003545-19-000143/
    Security and Exchange Commission SEC Alico Inc Form 10-K
    Security and Exchange Commission SEC Alico Inc Form 10-K
    sec.report
    Bullish
  • B
    BoneAlligator
    BoneAlligator
    It looks like the roadshow may be delayed due to COVID-19 flare ups in Florida. Also some minor labor shortages are to be expected, probably impacting revenues for the next few months. Too bad but long term great pick.
  • c
    charlesbrenner
    ALCO just paid $5,000 per acre for an established citrus farm. Using that price to value their holding of 45,000 acres of citrus farms gives a value of $225M. ALCO owns an additional 70,000 or so acres of land (much less valuable) and has $100M in debt. If the remaining land is worth $2,000 per acre, the the stock is fully valued at $30 per share.

    I'm surprised citrus acreage is only worth $5,000 per acre. I'm sure it costs more than that to plant the trees. I guess there are more orange groves than are needed to supply the market with fruit and ALCO's land won't become more valuable until the US stops importing fruit.
  • P
    Plutus
    Anyone here?
    Bullish
  • M
    MIGUEL
    At some point the true value of their land will start to attract attention.... might take a while though
  • O
    Oklahoma
    Dividend cut is the news here. I guess the dividend was a little large.
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