Riverwater Partners LLC Has $6.27 Million Stock Holdings in Limoneira (NASDAQ:LMNR)

Riverwater Partners LLC increased its holdings in shares of Limoneira (NASDAQ:LMNR - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,159 shares of the company's stock after purchasing an additional 55,736 shares during the period. Limoneira accounts for 3.0% of Riverwater Partners LLC's investment portfolio, making the stock its 2nd largest holding. Riverwater Partners LLC owned 1.42% of Limoneira worth $6,266,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. 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 worth $943,000 after purchasing an additional 29,470 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Limoneira by 17.7% in the 4th quarter. American Century Companies Inc. now owns 32,160 shares of the company's stock worth $787,000 after acquiring an additional 4,826 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Limoneira in the fourth quarter valued at about $958,000. Bank of New York Mellon Corp increased its stake in shares of Limoneira by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company's stock worth $2,948,000 after acquiring an additional 3,932 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Limoneira by 77.5% during the fourth 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 in the last quarter. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

Several equities analysts have issued reports on LMNR shares. StockNews.com upgraded Limoneira to a "sell" rating in a research report on Wednesday. Lake Street Capital cut their price objective on Limoneira from $25.00 to $23.00 and set a "hold" rating for the company in a research report on Thursday, March 13th.

Limoneira Trading Down 3.3 %

Shares of NASDAQ LMNR traded down $0.55 during midday trading on Thursday, reaching $16.15. 12,963 shares of the stock were exchanged, compared to its average volume of 53,068. Limoneira has a 52-week low of $15.58 and a 52-week high of $29.22. The stock has a 50 day moving average price of $20.25 and a 200-day moving average price of $23.95. The company has a market capitalization of $291.43 million, a P/E ratio of 42.26 and a beta of 0.38. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21.

Limoneira Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.30 annualized dividend and a yield of 1.86%. Limoneira's dividend payout ratio is presently 73.17%.

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

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.