Limoneira (NASDAQ:LMNR) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of Limoneira (NASDAQ:LMNR) from a hold rating to a sell rating in a research note published on Tuesday morning.

Limoneira Price Performance

NASDAQ:LMNR opened at $22.90 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $24.67 and its two-hundred day moving average price is $24.96. The firm has a market capitalization of $414.10 million, a price-to-earnings ratio of 60.26 and a beta of 0.52. Limoneira has a 12-month low of $17.37 and a 12-month high of $29.22.

Limoneira Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.31%. Limoneira’s dividend payout ratio (DPR) is currently 78.95%.

Hedge Funds Weigh In On Limoneira

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings 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 valued at $63,000 after acquiring an additional 1,127 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Limoneira by 14.3% during 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 acquired a new stake in shares of Limoneira during the 3rd quarter valued at $153,000. Legacy Capital Group California Inc. acquired a new stake in shares of Limoneira during the 3rd quarter valued at $206,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Limoneira by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock valued at $241,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

Limoneira Company 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.