BidaskClub lowered shares of Limoneira (NASDAQ:LMNR) from a strong-buy rating to a buy rating in a research note released on Thursday morning.
LMNR has been the subject of a number of other research reports. Buckingham Research increased their price objective on shares of Limoneira from $30.00 to $32.00 and gave the company a buy rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of Limoneira from a hold rating to a buy rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Limoneira from a sell rating to a hold rating in a report on Wednesday, August 29th. Finally, Lake Street Capital set a $31.00 price objective on shares of Limoneira and gave the company a buy rating in a report on Tuesday, September 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $29.50.
LMNR stock traded up $0.01 during mid-day trading on Thursday, reaching $25.32. The company’s stock had a trading volume of 88,700 shares, compared to its average volume of 85,881. The company has a market cap of $439.97 million, a price-to-earnings ratio of 60.29, a PEG ratio of 1.79 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. Limoneira has a fifty-two week low of $19.62 and a fifty-two week high of $33.42.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Monday, October 8th were paid a $0.0625 dividend. This is a boost from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, October 4th. This represents a $0.25 annualized dividend and a dividend yield of 0.99%. Limoneira’s dividend payout ratio is 59.52%.
In other news, Director John W.H. Merriman sold 2,200 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $28.01, for a total value of $61,622.00. Following the completion of the sale, the director now owns 1,218 shares of the company’s stock, valued at approximately $34,116.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of LMNR. Advisors Asset Management Inc. grew its stake in shares of Limoneira by 6,350.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,039,403 shares of the company’s stock valued at $603,000 after buying an additional 1,023,289 shares during the period. BlackRock Inc. grew its stake in shares of Limoneira by 71.9% in the 3rd quarter. BlackRock Inc. now owns 1,208,848 shares of the company’s stock valued at $31,564,000 after buying an additional 505,647 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Limoneira by 14,004.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 350,344 shares of the company’s stock valued at $9,148,000 after buying an additional 347,860 shares during the period. Global Alpha Capital Management Ltd. grew its stake in shares of Limoneira by 31.8% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,238,844 shares of the company’s stock valued at $30,488,000 after buying an additional 299,000 shares during the period. Finally, Cortina Asset Management LLC purchased a new stake in shares of Limoneira in the 2nd quarter valued at approximately $6,925,000. 41.72% of the stock is owned by institutional investors and hedge funds.
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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