BlackRock Inc. Acquires New Shares in Limoneira Co $LMNR

BlackRock Inc. acquired a new position in shares of Limoneira Co (NASDAQ:LMNR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,147,405 shares of the company's stock, valued at approximately $15,065,000. BlackRock Inc. owned approximately 6.33% of Limoneira as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Limoneira in the first quarter worth $256,000. Jane Street Group LLC bought a new stake in Limoneira during the first quarter valued at approximately $335,000. Geode Capital Management LLC lifted its position in Limoneira by 5.6% during the second quarter. Geode Capital Management LLC now owns 397,720 shares of the company's stock valued at $6,226,000 after purchasing an additional 20,913 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Limoneira by 248.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company's stock worth $692,000 after buying an additional 31,552 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Limoneira by 29.5% in the 2nd quarter. Rhumbline Advisers now owns 24,943 shares of the company's stock worth $390,000 after buying an additional 5,682 shares in the last quarter. Institutional investors own 64.35% of the company's stock.

Wall Street Analyst Weigh In

LMNR has been the topic of several research reports. HC Wainwright cut shares of Limoneira to a "buy" rating in a research report on Wednesday, June 10th. Lake Street Capital cut their target price on shares of Limoneira from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, June 10th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Limoneira in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $18.00.

Limoneira Stock Performance

NASDAQ LMNR opened at $15.00 on Friday. The company has a 50-day simple moving average of $13.61 and a two-hundred day simple moving average of $13.34. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. Limoneira Co has a 12-month low of $11.66 and a 12-month high of $16.44. The firm has a market cap of $271.95 million, a price-to-earnings ratio of -6.58 and a beta of 0.32.

Limoneira (NASDAQ:LMNR - Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.08). Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. The company had revenue of $23.93 million during the quarter, compared to the consensus estimate of $21.42 million. On average, equities analysts forecast that Limoneira Co will post -0.45 EPS for the current year.

Limoneira Profile

Limoneira Company NASDAQ: LMNR, founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company's vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.

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