Zacks Investment Management Has $1.24 Million Position in Limoneira Co (LMNR)
Zacks Investment Management increased its stake in shares of Limoneira Co (NASDAQ:LMNR) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,535 shares of the company’s stock after purchasing an additional 557 shares during the quarter. Zacks Investment Management owned approximately 0.36% of Limoneira worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its position in Limoneira by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,677 shares of the company’s stock worth $962,000 after purchasing an additional 228 shares in the last quarter. Wells Fargo & Company MN raised its stake in Limoneira by 5.2% in the 1st quarter. Wells Fargo & Company MN now owns 8,336 shares of the company’s stock valued at $175,000 after purchasing an additional 410 shares during the last quarter. American International Group Inc. lifted its holdings in Limoneira by 7.0% in the 1st quarter. American International Group Inc. now owns 7,214 shares of the company’s stock valued at $151,000 after purchasing an additional 471 shares in the last quarter. Rhumbline Advisers lifted its holdings in Limoneira by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 13,838 shares of the company’s stock valued at $327,000 after purchasing an additional 545 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Limoneira by 2.6% in the 1st quarter. Bank of America Corp DE now owns 24,234 shares of the company’s stock valued at $506,000 after purchasing an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.
Shares of Limoneira Co (NASDAQ LMNR) opened at 23.17 on Monday. Limoneira Co has a 1-year low of $16.39 and a 1-year high of $24.50. The stock has a market capitalization of $333.76 million, a PE ratio of 39.81 and a beta of 0.89. The firm has a 50-day moving average of $22.00 and a 200 day moving average of $20.89.
Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Monday, September 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). Limoneira had a return on equity of 6.64% and a net margin of 7.42%. The company had revenue of $40.40 million for the quarter, compared to analyst estimates of $37.94 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Limoneira’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Limoneira Co will post $0.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, October 5th. Limoneira’s payout ratio is 37.29%.
Several research firms have issued reports on LMNR. Zacks Investment Research raised shares of Limoneira from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, June 27th. Roth Capital reiterated a “buy” rating and set a $26.50 price target on shares of Limoneira in a report on Wednesday, June 7th. Finally, BidaskClub lowered shares of Limoneira from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th.
In other news, Director Ronald L. Michaelis sold 1,500 shares of Limoneira stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $22.19, for a total value of $33,285.00. Following the transaction, the director now directly owns 9,686 shares of the company’s stock, valued at $214,932.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 3,494 shares of company stock valued at $79,191. Corporate insiders own 5.70% of the company’s stock.
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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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