Robertson Stephens Wealth Management LLC acquired a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,155 shares of the company’s stock, valued at approximately $209,000.
Other hedge funds have also recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its position in shares of Calavo Growers by 503.5% in the second quarter. Gamco Investors INC. ET AL now owns 43,989 shares of the company’s stock valued at $2,767,000 after buying an additional 36,700 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Calavo Growers by 12.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 4,251 shares of the company’s stock worth $267,000 after acquiring an additional 485 shares during the period. Nuveen Asset Management LLC raised its holdings in Calavo Growers by 1.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 198,691 shares of the company’s stock valued at $12,500,000 after acquiring an additional 3,699 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in Calavo Growers in the 2nd quarter valued at $261,000. Finally, 6 Meridian purchased a new position in shares of Calavo Growers during the 3rd quarter worth $317,000. 79.16% of the stock is owned by hedge funds and other institutional investors.
NASDAQ CVGW opened at $70.20 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.41 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a fifty-two week low of $48.31 and a fifty-two week high of $94.92. The business has a 50 day moving average price of $69.36 and a two-hundred day moving average price of $63.35. The stock has a market cap of $1.24 billion, a PE ratio of -84.58 and a beta of 0.89.
Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, September 8th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Calavo Growers had a negative net margin of 1.31% and a positive return on equity of 10.31%. The business had revenue of $270.40 million during the quarter, compared to the consensus estimate of $325.37 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was down 24.7% compared to the same quarter last year. Sell-side analysts anticipate that Calavo Growers, Inc. will post 1.83 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, November 12th. This is an increase from Calavo Growers’s previous annual dividend of $1.10. This represents a dividend yield of 1.68%. Calavo Growers’s dividend payout ratio (DPR) is currently 38.08%.
Several research firms recently weighed in on CVGW. BidaskClub downgraded Calavo Growers from a “hold” rating to a “sell” rating in a research report on Tuesday, November 10th. National Securities began coverage on Calavo Growers in a report on Thursday, October 29th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Zacks Investment Research cut Calavo Growers from a “hold” rating to a “sell” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $78.33.
Calavo Growers Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG).
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