A number of other brokerages have also issued reports on LMNR. BidaskClub lowered Limoneira from a sell rating to a strong sell rating in a research report on Tuesday, March 19th. Zacks Investment Research upgraded shares of Limoneira from a sell rating to a hold rating in a research note on Friday, March 15th. Stephens downgraded shares of Limoneira from an overweight rating to an equal weight rating and dropped their price target for the stock from $25.00 to $18.00 in a research note on Tuesday, May 14th. Finally, Lake Street Capital set a $28.00 price target on shares of Limoneira and gave the stock a buy rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Limoneira presently has a consensus rating of Hold and a consensus price target of $27.20.
Shares of NASDAQ LMNR opened at $19.58 on Wednesday. The company has a market capitalization of $360.61 million, a price-to-earnings ratio of 39.16, a PEG ratio of 2.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.38. Limoneira has a 52-week low of $18.07 and a 52-week high of $33.42.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Monday, April 8th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.30 annualized dividend and a dividend yield of 1.53%. Limoneira’s dividend payout ratio (DPR) is 60.00%.
In other Limoneira news, CFO Mark Palamountain sold 1,611 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $24.35, for a total value of $39,227.85. Following the completion of the transaction, the chief financial officer now owns 49,698 shares in the company, valued at $1,210,146.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John W.H. Merriman sold 1,811 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $24.09, for a total transaction of $43,626.99. Following the completion of the transaction, the director now owns 2,011 shares of the company’s stock, valued at approximately $48,444.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,672 shares of company stock valued at $179,285. Insiders own 4.50% of the company’s stock.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its stake in shares of Limoneira by 757.1% during the first quarter. BNP Paribas Arbitrage SA now owns 3,094 shares of the company’s stock worth $73,000 after purchasing an additional 2,733 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Limoneira by 369.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,424 shares of the company’s stock worth $86,000 after purchasing an additional 3,481 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Limoneira during the fourth quarter worth $123,000. MetLife Investment Advisors LLC grew its stake in shares of Limoneira by 56.1% during the third quarter. MetLife Investment Advisors LLC now owns 9,690 shares of the company’s stock worth $253,000 after purchasing an additional 3,481 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Limoneira by 149.1% during the fourth quarter. Citigroup Inc. now owns 10,200 shares of the company’s stock worth $199,000 after purchasing an additional 6,105 shares in the last quarter. Institutional investors and hedge funds own 50.78% of the company’s stock.
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.
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