State Street Corp Buys 11,003 Shares of Limoneira (NASDAQ:LMNR)

State Street Corp grew its position in Limoneira (NASDAQ:LMNR) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,388 shares of the company’s stock after buying an additional 11,003 shares during the quarter. State Street Corp owned 1.73% of Limoneira worth $8,252,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after buying an additional 436 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Limoneira in the 3rd quarter worth $153,000. Legacy Capital Group California Inc. acquired a new stake in shares of Limoneira in the 3rd quarter worth $206,000. PEAK6 Investments LLC purchased a new position in Limoneira during the 3rd quarter worth $255,000. Finally, De Lisle Partners LLP acquired a new stake in Limoneira in the third quarter worth about $269,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Stock Performance

NASDAQ LMNR opened at $24.40 on Friday. The stock has a 50-day simple moving average of $26.81 and a two-hundred day simple moving average of $24.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. The firm has a market capitalization of $441.23 million, a P/E ratio of 84.14 and a beta of 0.49. Limoneira has a fifty-two week low of $17.37 and a fifty-two week high of $29.22.

Limoneira Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.23%. Limoneira’s payout ratio is 78.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LMNR shares. Lake Street Capital restated a “hold” rating and set a $25.00 price objective on shares of Limoneira in a report on Tuesday, September 10th. B. Riley upped their price target on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, StockNews.com cut shares of Limoneira from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.33.

About Limoneira

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.