Vanguard Group Inc. Trims Stock Position in Limoneira (NASDAQ:LMNR)

Vanguard Group Inc. decreased its position in shares of Limoneira (NASDAQ:LMNR - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 946,002 shares of the company's stock after selling 15,861 shares during the quarter. Vanguard Group Inc. owned approximately 5.23% of Limoneira worth $23,139,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Limoneira by 3.7% in the third quarter. State Street Corp now owns 311,388 shares of the company's stock valued at $8,252,000 after acquiring an additional 11,003 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Limoneira by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company's stock worth $2,948,000 after purchasing an additional 3,932 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in Limoneira by 144.8% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 101,460 shares of the company's stock valued at $2,489,000 after buying an additional 60,010 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Limoneira during the fourth quarter valued at approximately $958,000. Finally, Baker Ellis Asset Management LLC lifted its holdings in shares of Limoneira by 15.4% in the fourth quarter. Baker Ellis Asset Management LLC now owns 35,486 shares of the company's stock worth $868,000 after buying an additional 4,736 shares in the last quarter. Institutional investors own 64.35% of the company's stock.

Analyst Upgrades and Downgrades

LMNR has been the topic of several research analyst reports. Lake Street Capital decreased their price target on shares of Limoneira from $25.00 to $23.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th. StockNews.com upgraded Limoneira to a "sell" rating in a research report on Wednesday, April 9th.

Limoneira Price Performance

LMNR traded up $0.09 during trading hours on Friday, hitting $16.01. The company's stock had a trading volume of 118,521 shares, compared to its average volume of 53,945. Limoneira has a 12 month low of $15.58 and a 12 month high of $29.22. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $19.33 and its 200-day moving average price is $23.43. The stock has a market cap of $288.90 million, a price-to-earnings ratio of 42.13 and a beta of 0.38.

Limoneira Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, March 31st. Limoneira's payout ratio is 73.17%.

Limoneira announced that its Board of Directors has initiated a share repurchase plan on Monday, March 17th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

About Limoneira

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.