AlphaQuest LLC Grows Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

AlphaQuest LLC raised its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 1,527,100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,272 shares of the company’s stock after acquiring an additional 15,271 shares during the period. AlphaQuest LLC owned approximately 0.09% of Calavo Growers worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Calavo Growers during the fourth quarter valued at $26,000. Van ECK Associates Corp lifted its holdings in shares of Calavo Growers by 69.1% during the fourth quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock valued at $65,000 after purchasing an additional 1,039 shares in the last quarter. Point72 DIFC Ltd lifted its holdings in shares of Calavo Growers by 42.3% during the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock valued at $93,000 after purchasing an additional 973 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Calavo Growers during the third quarter valued at $219,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Calavo Growers during the fourth quarter valued at $247,000. 81.30% of the stock is owned by institutional investors.

Calavo Growers Stock Down 1.4 %

CVGW stock opened at $21.47 on Friday. Calavo Growers, Inc. has a fifty-two week low of $20.30 and a fifty-two week high of $30.58. The business’s 50-day moving average is $23.48 and its two-hundred day moving average is $25.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The company has a market cap of $382.17 million, a price-to-earnings ratio of -357.83 and a beta of 0.57.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The firm had revenue of $169.96 million during the quarter, compared to the consensus estimate of $161.99 million. During the same period in the prior year, the company posted ($0.33) EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. As a group, analysts forecast that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, April 1st. Calavo Growers’s dividend payout ratio (DPR) is currently -1,333.33%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com raised Calavo Growers from a “hold” rating to a “buy” rating in a report on Thursday. Lake Street Capital lowered their target price on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

About Calavo Growers

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.