Limoneira (NASDAQ:LMNR) is Riverwater Partners LLC’s 2nd Largest Position

Riverwater Partners LLC boosted its stake in shares of Limoneira (NASDAQ:LMNR) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,159 shares of the company’s stock after purchasing an additional 55,736 shares during the period. Limoneira comprises about 3.0% of Riverwater Partners LLC’s investment portfolio, making the stock its 2nd biggest position. Riverwater Partners LLC’s holdings in Limoneira were worth $6,266,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its position 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 buying an additional 1,127 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after acquiring an additional 436 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Limoneira by 20.1% during the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock valued at $169,000 after purchasing an additional 1,160 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Limoneira by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock valued at $241,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Limoneira by 3.9% in the 4th quarter. Inspire Investing LLC now owns 16,279 shares of the company’s stock worth $398,000 after buying an additional 617 shares during the period. Institutional investors own 64.35% of the company’s stock.

Limoneira Price Performance

Shares of Limoneira stock opened at $17.10 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21. Limoneira has a 12 month low of $16.76 and a 12 month high of $29.22. The stock has a 50 day moving average of $20.92 and a 200 day moving average of $24.33. The firm has a market cap of $308.57 million, a PE ratio of 45.00 and a beta of 0.38.

Limoneira Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 31st. Limoneira’s payout ratio is 73.17%.

Limoneira announced that its board has authorized a share repurchase program on Monday, March 17th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on LMNR shares. StockNews.com raised Limoneira to a “sell” rating in a research note on Friday, March 28th. Lake Street Capital dropped their target price on shares of Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

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.