JPMorgan Chase & Co. Acquires 29,470 Shares of Limoneira (NASDAQ:LMNR)

JPMorgan Chase & Co. lifted its holdings in shares of Limoneira (NASDAQ:LMNR - Free Report) by 324.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,556 shares of the company's stock after purchasing an additional 29,470 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Limoneira worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LMNR. Barclays PLC raised its stake in Limoneira by 269.7% in the 3rd quarter. Barclays PLC now owns 21,708 shares of the company's stock valued at $575,000 after acquiring an additional 15,836 shares during the period. Bank of New York Mellon Corp grew its holdings in Limoneira by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company's stock valued at $2,948,000 after buying an additional 3,932 shares in the last quarter. SG Americas Securities LLC grew its holdings in Limoneira by 20.1% during the 4th quarter. SG Americas Securities LLC now owns 6,924 shares of the company's stock valued at $169,000 after buying an additional 1,160 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in Limoneira by 144.8% during the 4th 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 in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Limoneira by 77.5% during the 4th 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 in the last quarter. 64.35% of the stock is currently owned by institutional investors.

Limoneira Price Performance

Shares of NASDAQ LMNR traded up $0.43 during midday trading on Thursday, hitting $15.46. 56,034 shares of the company's stock were exchanged, compared to its average volume of 55,947. Limoneira has a 12-month low of $14.81 and a 12-month high of $29.22. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21. The company has a market cap of $278.89 million, a price-to-earnings ratio of 40.67 and a beta of 0.38. The business's fifty day moving average price is $18.16 and its two-hundred day moving average price is $22.85.

Limoneira declared that its Board of Directors has approved a stock buyback program on Monday, March 17th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Limoneira Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, March 31st. Limoneira's payout ratio is 73.17%.

Analyst Ratings Changes

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

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.