Penn Mutual Asset Management Grows Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Penn Mutual Asset Management boosted its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 111.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,750 shares of the company’s stock after buying an additional 16,750 shares during the period. Calavo Growers makes up about 1.8% of Penn Mutual Asset Management’s holdings, making the stock its 13th biggest position. Penn Mutual Asset Management’s holdings in Calavo Growers were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVGW. Summit Securities Group LLC purchased a new stake in shares of Calavo Growers in the second quarter valued at about $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Calavo Growers by 40.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock valued at $87,000 after purchasing an additional 1,100 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Calavo Growers during the 3rd quarter worth approximately $219,000. LMR Partners LLP acquired a new stake in shares of Calavo Growers in the 3rd quarter valued at approximately $253,000. Finally, SG Americas Securities LLC raised its position in Calavo Growers by 126.7% in the second quarter. SG Americas Securities LLC now owns 12,395 shares of the company’s stock worth $281,000 after acquiring an additional 6,928 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Calavo Growers Price Performance

Calavo Growers stock opened at $27.54 on Wednesday. The company has a market cap of $490.21 million, a P/E ratio of -55.08 and a beta of 0.58. Calavo Growers, Inc. has a one year low of $20.30 and a one year high of $31.26. The business has a fifty day moving average of $27.82 and a two-hundred day moving average of $25.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Monday, September 9th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.36 by $0.21. The business had revenue of $179.60 million for the quarter, compared to analyst estimates of $175.00 million. Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. As a group, analysts predict that Calavo Growers, Inc. will post 1.31 earnings per share for the current fiscal year.

Calavo Growers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.20 per share. This is an increase from Calavo Growers’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, October 2nd. Calavo Growers’s dividend payout ratio (DPR) is -160.00%.

Calavo Growers Company 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 through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.