Insider Selling: Limoneira Co (LMNR) Director Sells $35,370.00 in Stock
Limoneira Co (NASDAQ:LMNR) Director Ronald L. Michaelis sold 1,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $23.58, for a total value of $35,370.00. Following the completion of the transaction, the director now directly owns 9,686 shares in the company, valued at approximately $228,395.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Limoneira Co (NASDAQ:LMNR) traded up 3.45% during midday trading on Monday, reaching $23.97. 24,485 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $22.00 and a 200-day moving average price of $20.89. The stock has a market cap of $345.29 million, a P/E ratio of 39.30 and a beta of 0.89. Limoneira Co has a 52-week low of $16.39 and a 52-week high of $24.50.
Limoneira (NASDAQ:LMNR) last posted its earnings results on Monday, September 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Limoneira had a net margin of 7.42% and a return on equity of 6.64%. The company had revenue of $40.40 million during the quarter, compared to analysts’ expectations of $37.94 million. During the same quarter last year, the firm earned $0.71 EPS. Limoneira’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that Limoneira Co will post $0.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, October 5th. Limoneira’s payout ratio is 37.29%.
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LMNR has been the subject of several analyst reports. Zacks Investment Research upgraded Limoneira from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, June 27th. BidaskClub cut Limoneira from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $26.50 price target on shares of Limoneira in a research note on Wednesday, June 7th.
Several large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in shares of Limoneira in the 2nd quarter worth approximately $123,000. D.A. Davidson & CO. raised its stake in shares of Limoneira by 184.0% during the 2nd quarter. D.A. Davidson & CO. now owns 7,100 shares of the company’s stock worth $167,000 after acquiring an additional 4,600 shares in the last quarter. American International Group Inc. raised its stake in shares of Limoneira by 7.0% during the 1st quarter. American International Group Inc. now owns 7,214 shares of the company’s stock worth $151,000 after acquiring an additional 471 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Limoneira by 10.0% during the 2nd quarter. Nationwide Fund Advisors now owns 7,735 shares of the company’s stock worth $183,000 after acquiring an additional 700 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Limoneira by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 8,336 shares of the company’s stock worth $175,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.
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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