Van ECK Associates Corp Reduces Holdings in Limoneira (NASDAQ:LMNR)

Van ECK Associates Corp decreased its position in shares of Limoneira (NASDAQ:LMNR) by 31.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,454 shares of the company’s stock after selling 663 shares during the period. Van ECK Associates Corp’s holdings in Limoneira were worth $39,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMNR. Covestor Ltd grew its holdings in Limoneira by 48.9% during the 1st quarter. Covestor Ltd now owns 5,764 shares of the company’s stock worth $113,000 after acquiring an additional 1,893 shares in the last quarter. SG Americas Securities LLC acquired a new position in Limoneira during the 3rd quarter worth $153,000. BNP Paribas Financial Markets grew its holdings in Limoneira by 60.8% during the 1st quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock worth $165,000 after acquiring an additional 3,199 shares in the last quarter. Legacy Capital Group California Inc. acquired a new position in Limoneira during the 3rd quarter worth $206,000. Finally, Inspire Investing LLC acquired a new position in Limoneira during the 3rd quarter worth $415,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Trading Down 0.8 %

NASDAQ LMNR opened at $26.98 on Thursday. Limoneira has a one year low of $14.38 and a one year high of $29.22. The company has a 50-day simple moving average of $26.65 and a 200-day simple moving average of $23.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. The firm has a market capitalization of $486.99 million, a PE ratio of 93.03 and a beta of 0.48.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Monday, September 9th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $63.31 million during the quarter, compared to analyst estimates of $63.85 million. Limoneira had a net margin of 3.24% and a return on equity of 3.97%. On average, equities analysts forecast that Limoneira will post 0.4 earnings per share for the current year.

Limoneira Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, October 7th. Limoneira’s payout ratio is 103.45%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com raised shares of Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Lake Street Capital reissued a “hold” rating and set a $25.00 price objective on shares of Limoneira in a report on Tuesday, September 10th. Finally, B. Riley lifted their price target on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Limoneira has an average rating of “Moderate Buy” and an average target price of $25.33.

Limoneira Company 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.