Goldman Sachs Group Inc. Cuts Position in Limoneira Co $LMNR

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Limoneira Co by 25.7% during the first quarter, resulting in a remaining stake of approximately 49,803 shares worth $883,000.
• Limoneira announced a quarterly dividend of $0.075 per share, translating to an annualized dividend of $0.30 and a yield of 2.0%.
• Analysts have mixed views on Limoneira, with two firms rating it a "buy", one a "hold", and another a "strong sell", leading to an average price target of $20.50.

Goldman Sachs Group Inc. decreased its holdings in Limoneira Co (NASDAQ:LMNR - Free Report) by 25.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,803 shares of the company's stock after selling 17,252 shares during the quarter. Goldman Sachs Group Inc. owned about 0.28% of Limoneira worth $883,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Global Alpha Capital Management Ltd. increased its position in shares of Limoneira by 0.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 3,278,681 shares of the company's stock valued at $58,098,000 after buying an additional 14,500 shares in the last quarter. Old West Investment Management LLC increased its position in shares of Limoneira by 1.4% in the first quarter. Old West Investment Management LLC now owns 439,682 shares of the company's stock valued at $7,791,000 after buying an additional 5,995 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Limoneira in the first quarter valued at $4,487,000. Gamco Investors INC. ET AL boosted its stake in shares of Limoneira by 4.7% during the first quarter. Gamco Investors INC. ET AL now owns 200,000 shares of the company's stock valued at $3,544,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Limoneira during the first quarter valued at $1,028,000. Hedge funds and other institutional investors own 64.35% of the company's stock.

Limoneira Trading Down 0.5%

NASDAQ:LMNR opened at $15.01 on Tuesday. Limoneira Co has a 12-month low of $14.40 and a 12-month high of $29.22. The firm has a market capitalization of $270.93 million, a P/E ratio of -27.29 and a beta of 0.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.66. The business has a 50 day simple moving average of $15.46 and a 200 day simple moving average of $16.00.

Limoneira Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, July 7th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, July 7th. Limoneira's payout ratio is currently -54.55%.

Wall Street Analyst Weigh In

LMNR has been the topic of a number of analyst reports. Lake Street Capital raised Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research note on Tuesday, June 10th. Roth Capital reaffirmed a "buy" rating on shares of Limoneira in a research note on Monday, September 15th. Zacks Research lowered Limoneira from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 16th. Finally, Stephens assumed coverage on Limoneira in a report on Friday, September 12th. They issued an "equal weight" rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Limoneira presently has an average rating of "Hold" and an average price target of $20.50.

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.

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