Corebridge Financial Inc. Sells 621 Shares of Limoneira (NASDAQ:LMNR)

Corebridge Financial Inc. cut its holdings in Limoneira (NASDAQ:LMNR) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,229 shares of the company’s stock after selling 621 shares during the period. Corebridge Financial Inc.’s holdings in Limoneira were worth $201,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LMNR. Robertson Stephens Wealth Management LLC lifted its stake in Limoneira by 144.8% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 101,460 shares of the company’s stock valued at $2,489,000 after acquiring an additional 60,010 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Limoneira during the fourth quarter valued at approximately $958,000. Barclays PLC lifted its position in Limoneira by 269.7% during the third quarter. Barclays PLC now owns 21,708 shares of the company’s stock valued at $575,000 after purchasing an additional 15,836 shares during the period. State Street Corp boosted its holdings in Limoneira by 3.7% in the third quarter. State Street Corp now owns 311,388 shares of the company’s stock worth $8,252,000 after purchasing an additional 11,003 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Limoneira by 17.7% in the 4th quarter. American Century Companies Inc. now owns 32,160 shares of the company’s stock worth $787,000 after purchasing an additional 4,826 shares during the period. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on LMNR shares. Lake Street Capital reduced their price objective on Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, March 13th. StockNews.com raised shares of Limoneira to a “sell” rating in a research report on Wednesday.

Limoneira Trading Up 1.8 %

Shares of Limoneira stock opened at $16.60 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.69 and a current ratio of 0.74. The company has a fifty day moving average of $20.01 and a 200 day moving average of $23.80. The company has a market capitalization of $299.55 million, a P/E ratio of 43.69 and a beta of 0.38. Limoneira has a fifty-two week low of $15.58 and a fifty-two week high of $29.22.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.81%. Limoneira’s payout ratio is 73.17%.

Limoneira declared that its Board of Directors has approved a share repurchase program on Monday, March 17th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.