TIAA CREF Investment Management LLC grew its position in shares of Limoneira (NASDAQ:LMNR) by 61.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,648 shares of the company’s stock after acquiring an additional 16,233 shares during the period. TIAA CREF Investment Management LLC owned about 0.24% of Limoneira worth $1,114,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of LMNR. BlackRock Inc. raised its stake in Limoneira by 71.9% in the third quarter. BlackRock Inc. now owns 1,208,848 shares of the company’s stock worth $31,564,000 after buying an additional 505,647 shares in the last quarter. Ashford Capital Management Inc. bought a new position in Limoneira in the third quarter worth about $13,799,000. Dimensional Fund Advisors LP raised its stake in Limoneira by 56.8% in the third quarter. Dimensional Fund Advisors LP now owns 481,396 shares of the company’s stock worth $12,569,000 after buying an additional 174,382 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Limoneira by 14,004.0% in the third quarter. JPMorgan Chase & Co. now owns 350,344 shares of the company’s stock worth $9,148,000 after buying an additional 347,860 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in Limoneira by 72.0% in the third quarter. Bamco Inc. NY now owns 215,000 shares of the company’s stock worth $5,614,000 after buying an additional 90,000 shares in the last quarter. 50.90% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Calavo Growers Inc sold 8,275 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $23.84, for a total value of $197,276.00. Following the completion of the transaction, the insider now owns 1,720,295 shares of the company’s stock, valued at approximately $41,011,832.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.
A number of research firms recently issued reports on LMNR. BidaskClub downgraded shares of Limoneira from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 8th. ValuEngine downgraded shares of Limoneira from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Roth Capital set a $28.00 price target on shares of Limoneira and gave the stock a “buy” rating in a research note on Thursday, December 20th. Stephens began coverage on shares of Limoneira in a research note on Tuesday, January 8th. They issued an “overweight” rating for the company. Finally, Zacks Investment Research downgraded shares of Limoneira from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.50.
Shares of NASDAQ LMNR traded down $0.30 on Monday, reaching $22.75. 4,102 shares of the company’s stock traded hands, compared to its average volume of 90,438. Limoneira has a 12 month low of $18.07 and a 12 month high of $33.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.95 and a current ratio of 1.15. The company has a market capitalization of $404.04 million, a price-to-earnings ratio of 45.50, a P/E/G ratio of 1.96 and a beta of 0.96.
Limoneira (NASDAQ:LMNR) last announced its earnings results on Monday, January 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Limoneira had a net margin of 15.60% and a return on equity of 4.32%. The firm had revenue of $14.71 million during the quarter, compared to the consensus estimate of $16.69 million. On average, analysts forecast that Limoneira will post 0.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were paid a $0.075 dividend. This is an increase from Limoneira’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, December 28th. This represents a $0.30 annualized dividend and a yield of 1.32%. Limoneira’s payout ratio is presently 60.00%.
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Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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