State Street Corp Increases Position in Limoneira (NASDAQ:LMNR)

State Street Corp grew its holdings in Limoneira (NASDAQ:LMNR) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 311,388 shares of the company’s stock after acquiring an additional 11,003 shares during the quarter. State Street Corp’s holdings in Limoneira were worth $8,252,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LMNR. Bank of New York Mellon Corp increased its holdings in Limoneira by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $2,700,000 after acquiring an additional 1,934 shares in the last quarter. Rhumbline Advisers increased its stake in Limoneira by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock worth $473,000 after buying an additional 1,565 shares in the last quarter. American Century Companies Inc. increased its stake in Limoneira by 32.9% during the 2nd quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after buying an additional 5,498 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Limoneira by 2.5% during the second quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock valued at $2,566,000 after acquiring an additional 3,000 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Limoneira in the 3rd quarter valued at $153,000. 64.35% of the stock is owned by institutional investors and hedge funds.

Limoneira Price Performance

NASDAQ:LMNR opened at $24.40 on Friday. The company has a market capitalization of $441.23 million, a P/E ratio of 84.14 and a beta of 0.49. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.21. Limoneira has a 52 week low of $17.37 and a 52 week high of $29.22. The stock’s fifty day moving average is $26.81 and its two-hundred day moving average is $24.34.

Limoneira Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.23%. Limoneira’s dividend payout ratio is currently 78.95%.

Analyst Ratings Changes

LMNR has been the subject of a number of recent research reports. Lake Street Capital reiterated a “hold” rating and issued a $25.00 price objective on shares of Limoneira in a report on Tuesday, September 10th. StockNews.com lowered Limoneira from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, B. Riley upped their target price on Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.33.

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.