Calavo Growers, Inc. (CVGW) To Go Ex-Dividend on September 30th

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Friday, August 29th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.20 per share on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 30th.

Calavo Growers has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Stock Performance

CVGW opened at $26.24 on Friday. The firm has a market cap of $468.46 million, a P/E ratio of 29.82 and a beta of 0.39. Calavo Growers has a 52-week low of $21.46 and a 52-week high of $30.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.86 and a current ratio of 2.30. The business’s fifty day moving average is $27.09 and its 200-day moving average is $26.28.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $178.82 million for the quarter, compared to analyst estimates of $195.20 million. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.Calavo Growers’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Sell-side analysts expect that Calavo Growers will post 1.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVGW. Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Lake Street Capital raised their price objective on Calavo Growers from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Stephens upgraded Calavo Growers to a “hold” rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Calavo Growers presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.