Limoneira (LMNR) Declares $0.08 Dividend
Limoneira said on March 22, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.30 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of April 3, 2023 to qualify for the dividend. Shareholders of record as of April 4, 2023 will receive the payment on April 14, 2023.
At the current share price of $16.20 / share, the stock's dividend yield is 1.85%. Looking back five years and taking a sample every week, the average dividend yield has been 1.75%, the lowest has been 0.75%, and the highest has been 2.78%. The standard deviation of yields is 0.46 (n=235).
The current dividend yield is 0.22 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 10.19% Upside
As of March 22, 2023, the average one-year price target for Limoneira is $17.85. The forecasts range from a low of $15.15 to a high of $19.95. The average price target represents an increase of 10.19% from its latest reported closing price of $16.20.
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The projected annual revenue for Limoneira is $200MM, an increase of 9.14%. The projected annual non-GAAP EPS is $0.18.
What is the Fund Sentiment?
There are 121 funds or institutions reporting positions in Limoneira. This is a decrease of 24 owner(s) or 16.55% in the last quarter. Average portfolio weight of all funds dedicated to LMNR is 0.14%, a decrease of 14.80%. Total shares owned by institutions increased in the last three months by 15.94% to 9,245K shares. The put/call ratio of LMNR is 0.27, indicating a bullish outlook.
What are Large Shareholders Doing?
Global Alpha Capital Management holds 2,790K shares representing 15.65% ownership of the company. In it's prior filing, the firm reported owning 2,164K shares, representing an increase of 22.44%. The firm decreased its portfolio allocation in LMNR by 99.88% over the last quarter.
Old West Investment Management holds 952K shares representing 5.34% ownership of the company. In it's prior filing, the firm reported owning 772K shares, representing an increase of 18.90%. The firm increased its portfolio allocation in LMNR by 0.88% over the last quarter.
First Wilshire Securities Management holds 616K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 627K shares, representing a decrease of 1.77%. The firm decreased its portfolio allocation in LMNR by 21.29% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 551K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 456K shares, representing an increase of 17.20%. The firm increased its portfolio allocation in LMNR by 3.32% over the last quarter.
Teton Advisors holds 194K shares representing 1.09% ownership of the company. In it's prior filing, the firm reported owning 203K shares, representing a decrease of 4.64%. The firm decreased its portfolio allocation in LMNR by 6.36% over the last quarter.
Limoneira Background Information
(This description is provided by the company.)
Limoneira Company, a 127-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (lç moñ âra) is a dedicated sustainability company with 15,400 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona, Chile and Argentina. The Company is a leading producer of lemons, avocados, oranges, specialty citrus and other crops that are enjoyed throughout the world.
This story originally appeared on Fintel.