Deutsche Bank AG Grows Position in Limoneira (NASDAQ:LMNR)

Deutsche Bank AG raised its position in shares of Limoneira (NASDAQ:LMNR) by 29.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,380 shares of the company’s stock after buying an additional 3,033 shares during the quarter. Deutsche Bank AG owned about 0.07% of Limoneira worth $327,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Limoneira by 27.9% in the 3rd 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. SG Americas Securities LLC boosted its holdings in shares of Limoneira by 20.1% in the 4th quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock worth $169,000 after purchasing an additional 1,160 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Limoneira by 144.8% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 101,460 shares of the company’s stock worth $2,489,000 after purchasing an additional 60,010 shares during the period. Van ECK Associates Corp boosted its holdings 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 worth $63,000 after purchasing an additional 1,127 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Limoneira by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company’s stock worth $2,948,000 after purchasing an additional 3,932 shares during the period. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Price Performance

Shares of LMNR stock opened at $15.83 on Friday. Limoneira has a 52-week low of $14.80 and a 52-week high of $29.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.69 and a current ratio of 0.74. The firm has a market capitalization of $285.65 million, a P/E ratio of 41.66 and a beta of 0.43. The stock has a 50 day moving average price of $16.10 and a 200 day moving average price of $21.08.

Limoneira announced that its Board of Directors has initiated a share buyback program on Monday, March 17th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Limoneira Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LMNR. Wall Street Zen upgraded Limoneira to a “sell” rating in a report on Wednesday, April 9th. Lake Street Capital dropped their target price on Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, March 13th.

Limoneira 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.