Legacy Capital Group California Inc. Purchases Shares of 7,790 Limoneira (NASDAQ:LMNR)

Legacy Capital Group California Inc. acquired a new stake in Limoneira (NASDAQ:LMNR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,790 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently made changes to their positions in LMNR. Covestor Ltd raised its stake in Limoneira by 48.9% during the 1st quarter. Covestor Ltd now owns 5,764 shares of the company’s stock valued at $113,000 after purchasing an additional 1,893 shares during the period. SG Americas Securities LLC bought a new stake in shares of Limoneira during the third quarter valued at approximately $153,000. BNP Paribas Financial Markets lifted its holdings in shares of Limoneira by 60.8% in the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock worth $165,000 after buying an additional 3,199 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Limoneira in the third quarter worth $415,000. Finally, American Century Companies Inc. boosted its position in shares of Limoneira by 32.9% during the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after acquiring an additional 5,498 shares during the last quarter. Institutional investors own 64.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Limoneira Price Performance

Limoneira stock opened at $25.95 on Friday. Limoneira has a 52-week low of $13.99 and a 52-week high of $28.27. The company has a market cap of $468.40 million, a price-to-earnings ratio of 89.48 and a beta of 0.48. The firm’s fifty day moving average is $25.76 and its 200 day moving average is $22.37. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.21.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings results on Monday, September 9th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $63.31 million during the quarter, compared to the consensus estimate of $63.85 million. Limoneira had a net margin of 3.24% and a return on equity of 3.97%. Sell-side analysts forecast that Limoneira will post 0.4 EPS for the current fiscal year.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, October 7th. Limoneira’s payout ratio is 103.45%.

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.