Ronald L. Michaelis Sells 1,500 Shares of Limoneira Co (LMNR) Stock
Limoneira Co (NASDAQ:LMNR) Director Ronald L. Michaelis sold 1,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $23.58, for a total value of $35,370.00. Following the sale, the director now owns 9,686 shares in the company, valued at $228,395.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Limoneira Co (NASDAQ LMNR) opened at 23.74 on Wednesday. The stock has a 50 day moving average price of $22.29 and a 200 day moving average price of $21.23. The firm has a market cap of $341.97 million, a PE ratio of 40.79 and a beta of 0.89. Limoneira Co has a 52 week low of $16.39 and a 52 week high of $24.50.
Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Monday, September 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Limoneira had a return on equity of 6.64% and a net margin of 7.42%. The business had revenue of $40.40 million during the quarter, compared to the consensus estimate of $37.94 million. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts expect that Limoneira Co will post $0.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 9th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.93%. Limoneira’s dividend payout ratio (DPR) is currently 37.29%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in Limoneira by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,677 shares of the company’s stock worth $962,000 after purchasing an additional 228 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Limoneira by 5.2% during the first quarter. Wells Fargo & Company MN now owns 8,336 shares of the company’s stock valued at $175,000 after purchasing an additional 410 shares during the period. American International Group Inc. boosted its stake in shares of Limoneira by 7.0% during the first quarter. American International Group Inc. now owns 7,214 shares of the company’s stock valued at $151,000 after purchasing an additional 471 shares during the period. Rhumbline Advisers boosted its stake in shares of Limoneira by 4.1% during the second quarter. Rhumbline Advisers now owns 13,838 shares of the company’s stock valued at $327,000 after purchasing an additional 545 shares during the period. Finally, Zacks Investment Management boosted its stake in shares of Limoneira by 1.1% during the second quarter. Zacks Investment Management now owns 52,535 shares of the company’s stock valued at $1,241,000 after purchasing an additional 557 shares during the period. 26.51% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on LMNR. Roth Capital reiterated a “buy” rating and issued a $26.50 price objective on shares of Limoneira in a report on Wednesday, June 7th. Zacks Investment Research cut shares of Limoneira from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, BidaskClub cut shares of Limoneira from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th.
Limoneira Company Profile
Limoneira Company is engaged in agribusiness and real estate development. The Company’s operations consist of fruit production, sales and marketing, rental operations, real estate development and capital investment activities. The Company’s segments include lemon operations, other agribusiness, rental operations and real estate development.
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