Legacy Capital Group California Inc. Makes New $206,000 Investment in Limoneira (NASDAQ:LMNR)

Legacy Capital Group California Inc. purchased a new position in Limoneira (NASDAQ:LMNR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,790 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in LMNR. Rhumbline Advisers grew its stake in shares of Limoneira by 7.4% during the second quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock valued at $473,000 after buying an additional 1,565 shares during the last quarter. Covestor Ltd grew its position in Limoneira by 48.9% during the 1st quarter. Covestor Ltd now owns 5,764 shares of the company’s stock worth $113,000 after acquiring an additional 1,893 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Limoneira by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $2,700,000 after purchasing an additional 1,934 shares during the period. Janney Montgomery Scott LLC lifted its position in Limoneira by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 35,138 shares of the company’s stock valued at $687,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Limoneira by 2.5% during the second quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock valued at $2,566,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LMNR. B. Riley increased their target price on shares of Limoneira from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Lake Street Capital reissued a “hold” rating and set a $25.00 target price on shares of Limoneira in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Limoneira Stock Down 2.2 %

LMNR stock opened at $25.95 on Friday. The stock has a market capitalization of $468.40 million, a P/E ratio of 89.48 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84. Limoneira has a 1-year low of $13.99 and a 1-year high of $28.27. The business has a fifty day moving average price of $25.76 and a 200-day moving average price of $22.37.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings data on Monday, September 9th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $63.31 million during the quarter, compared to analyst estimates of $63.85 million. Limoneira had a return on equity of 3.97% and a net margin of 3.24%. Equities analysts forecast that Limoneira will post 0.4 earnings per share for the current fiscal year.

Limoneira Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, October 7th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, October 7th. Limoneira’s dividend payout ratio (DPR) is currently 103.45%.

Limoneira 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.