Old West Investment Management LLC lowered its position in Limoneira (NASDAQ:LMNR - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 433,687 shares of the company's stock after selling 36,603 shares during the quarter. Limoneira comprises 4.3% of Old West Investment Management LLC's investment portfolio, making the stock its 6th largest holding. Old West Investment Management LLC owned approximately 2.40% of Limoneira worth $10,608,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMNR. Van ECK Associates Corp boosted its stake in Limoneira by 77.5% in the 4th quarter. Van ECK Associates Corp now owns 2,581 shares of the company's stock worth $63,000 after purchasing an additional 1,127 shares during the period. BNP Paribas Financial Markets grew its stake in Limoneira by 14.3% during the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company's stock valued at $92,000 after acquiring an additional 436 shares in the last quarter. SG Americas Securities LLC increased its holdings in Limoneira by 20.1% during the 4th quarter. SG Americas Securities LLC now owns 6,924 shares of the company's stock worth $169,000 after acquiring an additional 1,160 shares during the period. JPMorgan Chase & Co. lifted its stake in Limoneira by 27.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company's stock worth $241,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Limoneira by 3.9% in the 4th quarter. Inspire Investing LLC now owns 16,279 shares of the company's stock valued at $398,000 after purchasing an additional 617 shares during the period. 64.35% of the stock is currently owned by institutional investors.
Limoneira Price Performance
Shares of NASDAQ LMNR traded down $0.30 during mid-day trading on Thursday, reaching $16.41. 16,427 shares of the company were exchanged, compared to its average volume of 53,090. The stock has a market capitalization of $296.03 million, a PE ratio of 42.74 and a beta of 0.38. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. Limoneira has a 52 week low of $15.58 and a 52 week high of $29.22. The company's 50 day moving average price is $20.25 and its 200 day moving average price is $23.95.
Limoneira announced that its Board of Directors has initiated a share buyback plan on Monday, March 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Limoneira Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.83%. Limoneira's dividend payout ratio is 73.17%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Lake Street Capital lowered their price objective on Limoneira from $25.00 to $23.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. StockNews.com raised Limoneira to a "sell" rating in a report on Wednesday.
Read Our Latest Stock Analysis on LMNR
Limoneira Profile
(
Free Report)
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.
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