A portfolio of stocks I've been building since September 3, 2019, named Volio, will eventually hold 52 dividend dogs. Volio is the fifth portfolio I've built (at a one dividend dog per-week pace) since 2014. Five portfolios = V for Volio!

Today I'm reviewing the third of five consumer defensive sector stocks primed to join Volio as the fifth of five representing the sector. One of the stocks I discuss this week could be the forty-ninth overall selection for Volio!

My subject today is a small-cap farm products company named, Limoneira Company. Its trading ticker is LMNR. This is my second report on Limoneira Company for this Volio portfolio. I last talked about them on May 20th.

Limoneira Co is an agribusiness and real estate development company. Its operating segments are Agribusiness, Rental Operations, and Real estate development.

The agribusiness consists of fresh lemons, lemon packing, avocados, and other agribusinesses.

Rental operations include residential and commercial rentals, whereas real estate development includes real estate projects and development.

It generates a majority of its revenue from the Agribusiness segment.

The company markets and sells its lemons directly to the foodservice, wholesale, and retail customers; avocados to a packing and marketing company; oranges, specialty citrus, and other crops through Sunkist and other third-party packinghouses; and wine grapes to wine producers.

Limoneira Company was founded in 1893 and is headquartered in Santa Paula, California.

I use three key data points to gauge dividend equities or funds like Limoneira Company:

(1) Price

(2) Dividends

(3) Returns

Those three basic keys best tell whether a company has made, is making, and will make money.

LMNR Price

Limoneira's price per share closed at $13.86 Monday. A year ago their price was $18.40. Price fell $4.56 or over 24.6% last year.

Assuming Limoneira's stock trades in the range of $10 to $20 this next year, its recent $13.86 price might rise by $3.14 to reach $17.00 by August 5, 2021.

LMNR Dividends

Limoneira's most recently declared quarterly dividend was $0.075, paid July 17th. That equates to $0.30  annually and yields 2.16% at yesterday's $13.86 share price.

LMNR Gains?

Adding the $0.30 annual estimated dividend to my $3.14 optimistic estimate of Limoneira's price upside shows a $3.44 potential gross gain, per share, to be reduced by any costs to trade the shares.

If we put little under $1,000.00 today in Limoneira Company at $13.86 we would buy 72 shares of Limoneira Company stock.

A $10 broker fee paid half at purchase and half at sale could cost us about $0.14 per share.

Subtract that $0.14 brokerage cost from my estimated $3.44 gross gain per share results in a net gain of $3.30 X 72 shares = $237.60 for a 23.7% net gain on a $997.92 investment.

Thus, Limoneira Company shows a possible 23.7% net gain including a 2.16% dividend yield. It could be more, it could be less.

The above speculation is based on past performance and supposition. Only time and money invested will tell if Limoneira Company is worth it.