Limoneira (NASDAQ:LMNR) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Limoneira (NASDAQ:LMNR - Free Report) by 324.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,556 shares of the company's stock after buying an additional 29,470 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.21% of Limoneira worth $943,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of Limoneira by 269.7% in the third quarter. Barclays PLC now owns 21,708 shares of the company's stock valued at $575,000 after acquiring an additional 15,836 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Limoneira by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company's stock worth $2,948,000 after purchasing an additional 3,932 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Limoneira by 20.1% during the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company's stock worth $169,000 after buying an additional 1,160 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its position in shares of Limoneira by 144.8% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 101,460 shares of the company's stock valued at $2,489,000 after buying an additional 60,010 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Limoneira by 77.5% during the fourth quarter. Van ECK Associates Corp now owns 2,581 shares of the company's stock valued at $63,000 after buying an additional 1,127 shares during the period. Institutional investors and hedge funds own 64.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Lake Street Capital cut their price target on Limoneira from $25.00 to $23.00 and set a "hold" rating for the company in a report on Thursday, March 13th. StockNews.com raised Limoneira to a "sell" rating in a research note on Wednesday, April 9th.

Limoneira Trading Down 1.3 %

Shares of LMNR stock traded down $0.20 on Friday, reaching $15.33. 6,764 shares of the stock were exchanged, compared to its average volume of 56,031. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The stock has a market cap of $276.65 million, a P/E ratio of 40.44 and a beta of 0.38. The firm has a 50 day moving average of $18.01 and a two-hundred day moving average of $22.77. Limoneira has a 1-year low of $14.80 and a 1-year high of $29.22.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, March 31st. Limoneira's dividend payout ratio is currently 73.17%.

Limoneira declared that its board has approved a stock buyback plan on Monday, March 17th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.