Calavo Growers (NASDAQ:CVGW) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Calavo Growers, Inc. (NASDAQ:CVGW)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.20 and traded as high as $27.29. Calavo Growers shares last traded at $27.08, with a volume of 196,321 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens dropped their price objective on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Weiss Ratings raised shares of Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Calavo Growers Price Performance

The company has a quick ratio of 1.66, a current ratio of 2.21 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average is $26.58 and its two-hundred day moving average is $24.20. The company has a market capitalization of $483.92 million, a P/E ratio of 30.43 and a beta of 0.44.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Calavo Growers had a net margin of 2.61% and a return on equity of 12.81%. The company had revenue of $122.20 million for the quarter, compared to analyst estimates of $138.45 million.

Calavo Growers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Friday, April 24th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, April 24th. Calavo Growers’s dividend payout ratio is 89.89%.

Institutional Investors Weigh In On Calavo Growers

A number of hedge funds have recently modified their holdings of CVGW. Garner Asset Management Corp bought a new stake in shares of Calavo Growers in the 4th quarter worth approximately $26,000. Quarry LP bought a new stake in shares of Calavo Growers in the 3rd quarter worth approximately $28,000. Leonteq Securities AG raised its holdings in shares of Calavo Growers by 46.7% in the 1st quarter. Leonteq Securities AG now owns 1,210 shares of the company’s stock worth $31,000 after purchasing an additional 385 shares during the period. Royal Bank of Canada raised its holdings in shares of Calavo Growers by 43.0% in the 4th quarter. Royal Bank of Canada now owns 1,692 shares of the company’s stock worth $37,000 after purchasing an additional 509 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Calavo Growers by 145.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,407 shares of the company’s stock worth $52,000 after purchasing an additional 1,426 shares during the period. Institutional investors own 81.30% of the company’s stock.

Calavo Growers Company Profile

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.