Limoneira (NASDAQ:LMNR) Upgraded at StockNews.com

StockNews.com upgraded shares of Limoneira (NASDAQ:LMNR) to a sell rating in a research report sent to investors on Friday morning.

Separately, Lake Street Capital dropped their price objective on Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

Limoneira Stock Performance

Shares of NASDAQ:LMNR opened at $17.56 on Friday. The firm’s 50 day simple moving average is $21.46 and its 200 day simple moving average is $24.60. Limoneira has a fifty-two week low of $17.12 and a fifty-two week high of $29.22. The company has a market capitalization of $316.87 million, a price-to-earnings ratio of 46.21 and a beta of 0.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.69.

Limoneira declared that its Board of Directors has authorized a stock repurchase program on Monday, March 17th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the company to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Limoneira Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a $0.075 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.30 annualized dividend and a yield of 1.71%. Limoneira’s dividend payout ratio is currently 73.17%.

Institutional Trading of Limoneira

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in Limoneira by 3,345.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $62,000 after purchasing an additional 2,476 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Limoneira by 77.5% during the 4th quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,127 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after acquiring an additional 436 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Limoneira by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock valued at $169,000 after acquiring an additional 1,160 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Limoneira by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock worth $241,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

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.