Bank of New York Mellon Corp Acquires 3,932 Shares of Limoneira (NASDAQ:LMNR)

Bank of New York Mellon Corp grew its holdings in Limoneira (NASDAQ:LMNR) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,532 shares of the company’s stock after acquiring an additional 3,932 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Limoneira worth $2,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Limoneira by 77.5% during the 4th quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,127 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Limoneira by 14.3% during the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after purchasing an additional 436 shares during the period. SG Americas Securities LLC increased its holdings in Limoneira by 20.1% during 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. JPMorgan Chase & Co. lifted its position in shares of Limoneira by 27.9% during 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 last quarter. Finally, PEAK6 Investments LLC purchased a new position in Limoneira in the third quarter valued at approximately $255,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Trading Down 3.2 %

LMNR opened at $17.60 on Friday. Limoneira has a 52-week low of $17.53 and a 52-week high of $29.22. The firm has a market capitalization of $317.59 million, a P/E ratio of 46.32 and a beta of 0.46. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $22.11 and its 200-day moving average is $24.89.

Limoneira Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.30 dividend on an annualized basis and a yield of 1.70%. Limoneira’s dividend payout ratio (DPR) is 73.17%.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on LMNR shares. Lake Street Capital dropped their price objective on shares of Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating 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.