Geode Capital Management LLC Sells 1,957 Shares of Limoneira (NASDAQ:LMNR)

Geode Capital Management LLC lowered its stake in Limoneira (NASDAQ:LMNR) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,115 shares of the company’s stock after selling 1,957 shares during the period. Geode Capital Management LLC owned 2.06% of Limoneira worth $9,129,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LMNR. Van ECK Associates Corp increased its stake in shares of Limoneira by 77.5% in the 4th quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,127 shares during the period. SG Americas Securities LLC boosted its holdings in Limoneira by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock valued at $169,000 after acquiring an additional 1,160 shares during the last quarter. JPMorgan Chase & Co. increased its position in Limoneira by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock worth $241,000 after purchasing an additional 1,981 shares during the period. Inspire Investing LLC raised its holdings in Limoneira by 3.9% during the 4th quarter. Inspire Investing LLC now owns 16,279 shares of the company’s stock worth $398,000 after purchasing an additional 617 shares during the last quarter. Finally, Barclays PLC lifted its position in Limoneira by 269.7% during the 3rd quarter. Barclays PLC now owns 21,708 shares of the company’s stock valued at $575,000 after purchasing an additional 15,836 shares during the period. Institutional investors own 64.35% of the company’s stock.

Wall Street Analyst Weigh In

LMNR has been the subject of several analyst reports. StockNews.com upgraded shares of Limoneira to a “sell” rating in a research report on Wednesday, April 9th. Lake Street Capital dropped their target price on shares of Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

Limoneira Price Performance

Limoneira stock opened at $15.78 on Thursday. 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 market capitalization of $284.75 million, a P/E ratio of 41.53 and a beta of 0.38. The business has a 50-day moving average of $18.90 and a 200-day moving average of $23.24. Limoneira has a 1 year low of $15.58 and a 1 year high of $29.22.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, March 31st. Limoneira’s dividend payout ratio is currently 73.17%.

Limoneira declared that its board has initiated a share repurchase plan on Monday, March 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to purchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Limoneira Company 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.