Calavo Growers, Inc. (NASDAQ:CVGW) EVP Purchases $142,140.00 in Stock

Calavo Growers, Inc. (NASDAQ:CVGW) EVP Michael A. Browne purchased 6,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were bought at an average price of $23.69 per share, for a total transaction of $142,140.00. Following the acquisition, the executive vice president now owns 7,500 shares in the company, valued at $177,675. This trade represents a 400.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Calavo Growers Stock Performance

Shares of Calavo Growers stock traded up $0.35 on Thursday, hitting $23.86. The stock had a trading volume of 212,254 shares, compared to its average volume of 206,851. The stock has a market cap of $425.59 million, a price-to-earnings ratio of -397.67 and a beta of 0.41. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The company’s 50 day moving average price is $23.36 and its 200 day moving average price is $25.63. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, January 14th. The company reported $0.05 EPS 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 business had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same period in the previous year, the firm earned ($0.33) earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts anticipate that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.35%. Calavo Growers’s dividend payout ratio (DPR) is currently 148.15%.

Institutional Investors Weigh In On Calavo Growers

Several large investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in shares of Calavo Growers in the third quarter valued at about $357,000. BNP Paribas Financial Markets boosted its holdings in Calavo Growers by 54.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,473 shares of the company’s stock valued at $1,183,000 after purchasing an additional 14,568 shares in the last quarter. Verition Fund Management LLC acquired a new position in Calavo Growers during the 3rd quarter worth approximately $746,000. Paloma Partners Management Co purchased a new position in shares of Calavo Growers during the 3rd quarter worth approximately $595,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Calavo Growers in the 3rd quarter valued at approximately $219,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVGW shares. StockNews.com raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Monday. Lake Street Capital cut their price objective on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

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.