Limoneira (NASDAQ:LMNR) is Old West Investment Management LLC's 6th Largest Position

Old West Investment Management LLC lessened its stake in Limoneira (NASDAQ:LMNR - Free Report) by 37.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 470,290 shares of the company's stock after selling 276,116 shares during the quarter. Limoneira makes up approximately 4.5% of Old West Investment Management LLC's holdings, making the stock its 6th biggest holding. Old West Investment Management LLC owned about 2.61% of Limoneira worth $12,463,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gabelli Funds LLC raised its holdings in shares of Limoneira by 24.0% during the first quarter. Gabelli Funds LLC now owns 120,300 shares of the company's stock worth $2,353,000 after purchasing an additional 23,300 shares during the period. Vanguard Group Inc. lifted its holdings in Limoneira by 1.6% in the first quarter. Vanguard Group Inc. now owns 927,965 shares of the company's stock worth $18,151,000 after acquiring an additional 14,572 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Limoneira by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 35,138 shares of the company's stock valued at $687,000 after acquiring an additional 2,923 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Limoneira by 60.8% during the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company's stock valued at $165,000 after purchasing an additional 3,199 shares during the last quarter. Finally, Riverwater Partners LLC raised its position in shares of Limoneira by 47.3% during the 3rd quarter. Riverwater Partners LLC now owns 200,423 shares of the company's stock worth $5,245,000 after purchasing an additional 64,392 shares during the period. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Limoneira Price Performance

Shares of LMNR stock traded up $1.71 during midday trading on Wednesday, reaching $28.91. 117,620 shares of the company were exchanged, compared to its average volume of 45,214. The company's 50 day moving average price is $26.27 and its two-hundred day moving average price is $22.73. The company has a market cap of $521.88 million, a P/E ratio of 98.90 and a beta of 0.48. Limoneira has a 12 month low of $14.13 and a 12 month high of $29.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93.

Limoneira (NASDAQ:LMNR - Get Free Report) last issued its quarterly earnings results on Monday, September 9th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. The firm had revenue of $63.31 million during the quarter, compared to analyst estimates of $63.85 million. Limoneira had a return on equity of 3.97% and a net margin of 3.24%. On average, sell-side analysts expect that Limoneira will post 0.4 earnings per share for the current year.

Limoneira Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, October 7th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Monday, October 7th. Limoneira's dividend payout ratio is 103.45%.

Analysts Set New Price Targets

Several research firms have recently commented on LMNR. B. Riley upped their price target on shares of Limoneira from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Lake Street Capital restated a "hold" rating and issued a $25.00 price target on shares of Limoneira in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded Limoneira from a "sell" rating to a "hold" rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Limoneira presently has a consensus rating of "Moderate Buy" and an average price target of $25.33.

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.