First Wilshire Securities Management Inc. Sells 165,982 Shares of Limoneira (NASDAQ:LMNR)

First Wilshire Securities Management Inc. cut its position in Limoneira (NASDAQ:LMNR - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,230 shares of the company's stock after selling 165,982 shares during the quarter. Limoneira comprises about 3.5% of First Wilshire Securities Management Inc.'s holdings, making the stock its 12th largest position. First Wilshire Securities Management Inc. owned about 2.92% of Limoneira worth $12,896,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LMNR. State Street Corp lifted its holdings in shares of Limoneira by 3.7% in the third quarter. State Street Corp now owns 311,388 shares of the company's stock worth $8,252,000 after buying an additional 11,003 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Limoneira by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company's stock valued at $2,948,000 after purchasing an additional 3,932 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its stake in Limoneira by 144.8% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 101,460 shares of the company's stock worth $2,489,000 after purchasing an additional 60,010 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Limoneira in the fourth quarter worth $958,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Limoneira by 324.3% during the fourth quarter. JPMorgan Chase & Co. now owns 38,556 shares of the company's stock valued at $943,000 after acquiring an additional 29,470 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Stock Performance

NASDAQ:LMNR traded up $0.09 during mid-day trading on Friday, hitting $17.10. 103,151 shares of the company traded hands, compared to its average volume of 52,354. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average price is $20.92 and its 200-day moving average price is $24.31. The firm has a market cap of $308.57 million, a price-to-earnings ratio of 45.00 and a beta of 0.38. Limoneira has a one year low of $16.76 and a one year high of $29.22.

Limoneira declared that its board has authorized a share buyback program on Monday, March 17th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Limoneira Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 31st. Limoneira's dividend payout ratio is 73.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on LMNR. Lake Street Capital reduced their target price on Limoneira from $25.00 to $23.00 and set a "hold" rating on the stock in a report on Thursday, March 13th. StockNews.com upgraded shares of Limoneira to a "sell" rating in a research note on Friday, March 28th.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.