Scott Slater Acquires 5,000 Shares of Limoneira (NASDAQ:LMNR) Stock

Limoneira Co (NASDAQ:LMNR) Director Scott Slater bought 5,000 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was purchased at an average cost of $12.85 per share, for a total transaction of $64,250.00. Following the completion of the transaction, the director directly owned 64,447 shares of the company’s stock, valued at approximately $828,143.95. The trade was a 8.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Limoneira Price Performance

NASDAQ LMNR opened at $13.50 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $244.62 million, a P/E ratio of -14.52 and a beta of 0.39. The company has a 50-day moving average price of $13.66 and a 200-day moving average price of $14.72. Limoneira Co has a 52 week low of $12.20 and a 52 week high of $24.12.

Limoneira Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. Limoneira’s payout ratio is presently -32.26%.

Wall Street Analyst Weigh In

LMNR has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Limoneira in a research report on Monday, December 29th. Zacks Research cut Limoneira from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 31st. Lake Street Capital began coverage on Limoneira in a research note on Wednesday, December 31st. They set a “buy” rating and a $19.00 price objective for the company. Finally, Roth Capital restated a “buy” rating on shares of Limoneira in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets raised its position in shares of Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after buying an additional 668 shares during the last quarter. CWM LLC increased its holdings in Limoneira by 144.3% in the 3rd quarter. CWM LLC now owns 2,450 shares of the company’s stock valued at $36,000 after acquiring an additional 1,447 shares during the last quarter. Byrne Asset Management LLC lifted its stake in Limoneira by 33.1% in the 2nd quarter. Byrne Asset Management LLC now owns 5,151 shares of the company’s stock worth $81,000 after purchasing an additional 1,282 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Limoneira in the 3rd quarter worth $151,000. Finally, Walleye Capital LLC bought a new position in shares of Limoneira during the 2nd quarter valued at about $220,000. 64.35% of the stock is currently owned by institutional investors.

Limoneira Company Profile

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.