Limoneira (NASDAQ:LMNR) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Limoneira (NASDAQ:LMNR) from a hold rating to a sell rating in a report issued on Wednesday.

Other equities analysts have also issued reports about the stock. B. Riley increased their price target on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Lake Street Capital restated a “hold” rating and issued a $25.00 target price on shares of Limoneira in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.33.

Limoneira Trading Down 7.0 %

NASDAQ:LMNR opened at $24.95 on Wednesday. Limoneira has a 1 year low of $17.37 and a 1 year high of $29.22. The stock has a market cap of $450.35 million, a P/E ratio of 86.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a 50-day simple moving average of $26.89 and a 200-day simple moving average of $24.34.

Limoneira Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a dividend of $0.075 per share. The ex-dividend date is Monday, December 30th. This represents a $0.30 dividend on an annualized basis and a yield of 1.20%. Limoneira’s dividend payout ratio is presently 103.45%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Limoneira by 14.3% in the third 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 during the period. Rhumbline Advisers raised its position in Limoneira by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock valued at $473,000 after purchasing an additional 1,565 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 valued at $2,700,000 after purchasing an additional 1,934 shares during the last quarter. Gabelli Funds LLC boosted its stake in Limoneira by 2.5% during the 2nd quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock worth $2,566,000 after purchasing an additional 3,000 shares during the period. Finally, American Century Companies Inc. grew its position in Limoneira by 32.9% during the 2nd quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after purchasing an additional 5,498 shares during the last quarter. Institutional investors and hedge funds 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.