First Wilshire Securities Management Inc. Sells 265,829 Shares of Limoneira Co $LMNR

Key Points

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First Wilshire Securities Management Inc. reduced its stake in Limoneira Co (NASDAQ:LMNR - Free Report) by 50.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 261,401 shares of the company's stock after selling 265,829 shares during the quarter. Limoneira makes up approximately 1.3% of First Wilshire Securities Management Inc.'s investment portfolio, making the stock its 26th biggest position. First Wilshire Securities Management Inc. owned approximately 1.45% of Limoneira worth $4,632,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of LMNR. JPMorgan Chase & Co. raised its holdings in Limoneira by 324.3% in the 4th quarter. JPMorgan Chase & Co. now owns 38,556 shares of the company's stock worth $943,000 after purchasing an additional 29,470 shares during the period. Wells Fargo & Company MN raised its holdings in Limoneira by 12.1% in the 4th quarter. Wells Fargo & Company MN now owns 19,615 shares of the company's stock worth $480,000 after purchasing an additional 2,116 shares during the period. Envestnet Asset Management Inc. raised its holdings in Limoneira by 28.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 29,013 shares of the company's stock worth $710,000 after purchasing an additional 6,513 shares during the period. Invesco Ltd. raised its holdings in Limoneira by 2.0% during the fourth quarter. Invesco Ltd. now owns 25,547 shares of the company's stock valued at $625,000 after acquiring an additional 500 shares during the period. Finally, Barclays PLC lifted its position in shares of Limoneira by 14.7% in the fourth quarter. Barclays PLC now owns 24,895 shares of the company's stock valued at $609,000 after acquiring an additional 3,187 shares in the last quarter. 64.35% of the stock is owned by institutional investors.

Limoneira Price Performance

Shares of LMNR stock traded up $0.55 during trading hours on Friday, hitting $16.52. The stock had a trading volume of 55,701 shares, compared to its average volume of 47,595. Limoneira Co has a one year low of $14.40 and a one year high of $29.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 0.94. The stock's 50-day moving average price is $15.46 and its two-hundred day moving average price is $17.03. The stock has a market capitalization of $298.52 million, a price-to-earnings ratio of -117.99 and a beta of 0.46.

Limoneira (NASDAQ:LMNR - Get Free Report) last issued its earnings results on Monday, June 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Limoneira had a negative return on equity of 0.90% and a negative net margin of 0.96%.The firm had revenue of $35.12 million during the quarter, compared to the consensus estimate of $38.70 million. During the same period last year, the firm posted $0.44 earnings per share.

Limoneira Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, July 7th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, July 7th. Limoneira's payout ratio is -214.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on LMNR shares. Lake Street Capital upgraded Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research report on Tuesday, June 10th. Zacks Research upgraded Limoneira to a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.50.

Limoneira 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.