California Public Employees Retirement System boosted its stake in shares of Limoneira (NASDAQ:LMNR) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,461 shares of the company’s stock after purchasing an additional 2,461 shares during the quarter. California Public Employees Retirement System’s holdings in Limoneira were worth $1,119,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new position in Limoneira during the second quarter worth $244,000. Trexquant Investment LP bought a new position in Limoneira during the second quarter worth $285,000. Royal Bank of Canada boosted its position in Limoneira by 62.0% during the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock worth $316,000 after purchasing an additional 5,103 shares during the period. First Trust Advisors LP boosted its position in Limoneira by 18.0% during the second quarter. First Trust Advisors LP now owns 13,671 shares of the company’s stock worth $336,000 after purchasing an additional 2,082 shares during the period. Finally, Millennium Management LLC bought a new position in Limoneira during the second quarter worth $718,000. 41.72% of the stock is owned by hedge funds and other institutional investors.
LMNR has been the subject of a number of research analyst reports. BidaskClub cut shares of Limoneira from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 17th. ValuEngine raised shares of Limoneira from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Limoneira from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Buckingham Research lifted their price objective on shares of Limoneira from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Finally, Lake Street Capital set a $31.00 price objective on shares of Limoneira and gave the stock a “buy” rating in a research report on Tuesday, September 11th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $29.50.
Shares of Limoneira stock opened at $24.90 on Wednesday. The stock has a market capitalization of $454.28 million, a PE ratio of 59.29, a price-to-earnings-growth ratio of 1.85 and a beta of 0.85. Limoneira has a 52-week low of $19.62 and a 52-week high of $33.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.81.
Limoneira (NASDAQ:LMNR) last announced its earnings results on Monday, September 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). The business had revenue of $39.95 million during the quarter, compared to the consensus estimate of $37.68 million. Limoneira had a net margin of 15.91% and a return on equity of 6.46%. As a group, analysts anticipate that Limoneira will post 0.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Monday, October 8th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, October 4th. This is a boost from Limoneira’s previous quarterly dividend of $0.05. Limoneira’s payout ratio is presently 59.52%.
Limoneira Company Profile
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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