Limoneira (NASDAQ:LMNR) Sets New 12-Month High at $27.89

Limoneira (NASDAQ:LMNR) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $27.89 and last traded at $27.89, with a volume of 64500 shares traded. The stock had previously closed at $27.50.

Analysts Set New Price Targets

LMNR has been the subject of a number of analyst reports. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. B. Riley boosted their target price on Limoneira from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Lake Street Capital reissued a “hold” rating and issued a $25.00 price target on shares of Limoneira in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.33.

Limoneira Stock Up 0.8 %

The company has a market capitalization of $499.45 million, a PE ratio of -211.54, a price-to-earnings-growth ratio of 5.91 and a beta of 0.48. The business’s 50-day simple moving average is $22.90 and its 200-day simple moving average is $20.93. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Limoneira Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Monday, July 8th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Monday, July 8th. Limoneira’s payout ratio is presently -230.77%.

Institutional Investors Weigh In On Limoneira

A number of hedge funds and other institutional investors have recently made changes to their positions in LMNR. Covestor Ltd lifted its position in shares of Limoneira by 48.9% during the 1st quarter. Covestor Ltd now owns 5,764 shares of the company’s stock valued at $113,000 after buying an additional 1,893 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Limoneira by 60.8% during the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock valued at $165,000 after purchasing an additional 3,199 shares in the last quarter. Bulldog Investors LLP acquired a new stake in shares of Limoneira in the fourth quarter valued at about $413,000. American Century Companies Inc. increased its stake in shares of Limoneira by 32.9% during the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after purchasing an additional 5,498 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Limoneira by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock worth $473,000 after purchasing an additional 1,565 shares during the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

About Limoneira

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.