IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Stake in Calavo Growers, Inc. $CVGW

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 4.2% in the second quarter, Holdings Channel reports. The institutional investor owned 38,657 shares of the company’s stock after selling 1,689 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Calavo Growers were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new stake in Calavo Growers during the second quarter worth $997,000. Oppenheimer Asset Management Inc. purchased a new stake in Calavo Growers during the second quarter worth $272,000. AlphaQuest LLC lifted its holdings in Calavo Growers by 24.7% during the second quarter. AlphaQuest LLC now owns 10,698 shares of the company’s stock worth $284,000 after buying an additional 2,121 shares during the period. CWM LLC lifted its holdings in Calavo Growers by 280.0% during the second quarter. CWM LLC now owns 8,751 shares of the company’s stock worth $233,000 after buying an additional 6,448 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Calavo Growers by 3.3% during the 2nd quarter. Inspire Investing LLC now owns 14,724 shares of the company’s stock valued at $392,000 after purchasing an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

CVGW has been the subject of several analyst reports. Wall Street Zen upgraded Calavo Growers from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Stephens upgraded Calavo Growers to a “hold” rating in a report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Calavo Growers in a report on Wednesday, October 8th. Finally, Lake Street Capital increased their price objective on Calavo Growers from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Calavo Growers Stock Performance

Shares of CVGW stock opened at $23.21 on Wednesday. The firm has a market capitalization of $414.30 million, a price-to-earnings ratio of 26.38 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.30 and a quick ratio of 1.86. The business has a fifty day moving average of $26.10 and a 200 day moving average of $26.47. Calavo Growers, Inc. has a 1 year low of $21.46 and a 1 year high of $30.02.

Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $178.82 million during 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%.The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. As a group, research analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. Calavo Growers’s dividend payout ratio (DPR) is 90.91%.

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.