New Jersey Better Educational Savings Trust cut its stake in shares of Limoneira Co (NASDAQ:LMNR) by 5.0% during the second quarter, Holdings Channel reports. The fund owned 38,000 shares of the company’s stock after selling 2,000 shares during the period. Limoneira accounts for 0.8% of New Jersey Better Educational Savings Trust’s holdings, making the stock its 25th largest position. New Jersey Better Educational Savings Trust’s holdings in Limoneira were worth $898,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Limoneira by 362.4% in the fourth quarter. Renaissance Technologies LLC now owns 136,400 shares of the company’s stock valued at $2,934,000 after buying an additional 106,900 shares during the last quarter. First Wilshire Securities Management Inc. increased its position in Limoneira by 49.3% in the first quarter. First Wilshire Securities Management Inc. now owns 142,577 shares of the company’s stock valued at $2,981,000 after buying an additional 47,096 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Limoneira by 59.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 113,628 shares of the company’s stock valued at $2,444,000 after buying an additional 42,500 shares during the last quarter. Teton Advisors Inc. increased its position in Limoneira by 21.8% in the first quarter. Teton Advisors Inc. now owns 136,590 shares of the company’s stock valued at $2,856,000 after buying an additional 24,470 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Limoneira by 4.0% in the first quarter. Vanguard Group Inc. now owns 489,206 shares of the company’s stock valued at $10,230,000 after buying an additional 18,774 shares during the last quarter. 25.82% of the stock is owned by hedge funds and other institutional investors.
Limoneira Co (LMNR) opened at 21.56 on Thursday. The firm’s 50-day moving average price is $22.50 and its 200 day moving average price is $20.02. The stock has a market cap of $310.57 million, a P/E ratio of 26.68 and a beta of 0.89. Limoneira Co has a 52-week low of $15.87 and a 52-week high of $24.00.
Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Thursday, June 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.06. The company had revenue of $36.89 million for the quarter, compared to analysts’ expectations of $33.31 million. Limoneira had a return on equity of 9.09% and a net margin of 9.82%. The firm’s revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. Equities analysts predict that Limoneira Co will post $0.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were issued a $0.055 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.22 annualized dividend and a dividend yield of 1.02%. This is a boost from Limoneira’s previous quarterly dividend of $0.05. Limoneira’s dividend payout ratio is currently 28.21%.
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Several research firms have weighed in on LMNR. Roth Capital reissued a “buy” rating and set a $26.50 price target on shares of Limoneira in a research report on Wednesday, June 7th. Zacks Investment Research downgraded Limoneira from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th.
In other Limoneira news, Director Elizabeth Blanchard Chess sold 3,506 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $23.43, for a total transaction of $82,145.58. Following the sale, the director now directly owns 1,616 shares of the company’s stock, valued at approximately $37,862.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald L. Michaelis sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $22.70, for a total transaction of $34,050.00. Following the sale, the director now directly owns 9,686 shares in the company, valued at $219,872.20. The disclosure for this sale can be found here. Insiders sold 8,006 shares of company stock worth $181,356 in the last ninety days. 5.70% of the stock is owned by corporate insiders.
Limoneira Company Profile
Limoneira Company is engaged in agribusiness and real estate development. The Company’s operations consist of fruit production, sales and marketing, rental operations, real estate development and capital investment activities. The Company’s segments include lemon operations, other agribusiness, rental operations and real estate development.
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