Limoneira (NASDAQ:LMNR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Limoneira (NASDAQ:LMNR) by 3.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 120,532 shares of the company’s stock after purchasing an additional 3,932 shares during the quarter. Bank of New York Mellon Corp’s holdings in Limoneira were worth $2,948,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LMNR. Robertson Stephens Wealth Management LLC grew its position in Limoneira by 144.8% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 101,460 shares of the company’s stock worth $2,489,000 after acquiring an additional 60,010 shares in the last quarter. Barclays PLC grew its stake in Limoneira by 269.7% during the third quarter. Barclays PLC now owns 21,708 shares of the company’s stock worth $575,000 after buying an additional 15,836 shares during the last quarter. State Street Corp grew its holdings in Limoneira by 3.7% during the 3rd quarter. State Street Corp now owns 311,388 shares of the company’s stock worth $8,252,000 after acquiring an additional 11,003 shares during the last quarter. De Lisle Partners LLP acquired a new position in shares of Limoneira during the third quarter valued at $269,000. Finally, PEAK6 Investments LLC acquired a new stake in Limoneira during the 3rd quarter worth $255,000. 64.35% of the stock is owned by institutional investors and hedge funds.

Limoneira Stock Down 3.2 %

LMNR stock opened at $17.60 on Friday. The stock has a market capitalization of $317.59 million, a P/E ratio of 46.32 and a beta of 0.46. Limoneira has a 12 month low of $17.53 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 firm has a 50-day moving average price of $22.11 and a 200-day moving average price of $24.89.

Limoneira announced that its Board of Directors has authorized a share buyback program on Monday, March 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Limoneira Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.30 dividend on an annualized basis and a yield of 1.70%. Limoneira’s payout ratio is 73.17%.

Analyst Upgrades and Downgrades

LMNR has been the subject of several recent analyst reports. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Thursday, March 13th. Lake Street Capital reduced their price target on Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research note 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.