According to Zacks, “Calavo Growers, Inc. engages in the procurement and marketing of avocados and other perishable foods and the preparation and distribution of processed avocado products. Their expertise in marketing and distributing avocado, processed avocado, and other perishable foods allows them to deliver a wide array of fresh and processed food products to food distributors, produce wholesalers, supermarkets, and restaurants on a worldwide basis. “
Other equities research analysts have also issued research reports about the company. Wunderlich initiated coverage on Calavo Growers in a research report on Wednesday, June 22nd. They set a buy rating and a $75.00 target price on the stock. Lake Street Capital reissued a buy rating on shares of Calavo Growers in a research report on Monday, June 6th. Stephens downgraded Calavo Growers from an overweight rating to an equal weight rating in a research note on Tuesday, August 9th. Finally, DA Davidson set a $65.00 price target on Calavo Growers and gave the stock a hold rating in a research note on Sunday, August 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $65.94.
Calavo Growers (NASDAQ:CVGW) opened at 64.27 on Tuesday. Calavo Growers has a one year low of $44.78 and a one year high of $71.48. The firm has a 50-day moving average price of $64.75 and a 200-day moving average price of $61.86. The firm has a market capitalization of $1.12 billion, a P/E ratio of 33.28 and a beta of 0.54.
Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Wednesday, September 7th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.14. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. The business had revenue of $263.15 million for the quarter, compared to analyst estimates of $243.80 million. During the same quarter last year, the company earned $0.54 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. Equities analysts anticipate that Calavo Growers will post $2.11 earnings per share for the current year.
The business also recently announced an annual dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a $0.90 dividend. This is an increase from Calavo Growers’s previous annual dividend of $0.80. This represents a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 15th. Calavo Growers’s dividend payout ratio (DPR) is 41.24%.
In other Calavo Growers news, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $68.86, for a total value of $68,860.00. Following the transaction, the director now directly owns 9,250 shares in the company, valued at approximately $636,955. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald M. Sanders sold 8,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $52.50, for a total value of $420,000.00. Following the completion of the transaction, the director now owns 15,137 shares in the company, valued at $794,692.50. The disclosure for this sale can be found here. 10.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CVGW. Suntrust Banks Inc. increased its position in shares of Calavo Growers by 2.2% in the second quarter. Suntrust Banks Inc. now owns 6,167 shares of the company’s stock valued at $413,000 after buying an additional 135 shares during the period. California State Teachers Retirement System increased its position in shares of Calavo Growers by 4.1% in the second quarter. California State Teachers Retirement System now owns 32,455 shares of the company’s stock valued at $2,174,000 after buying an additional 1,285 shares during the period. Moody Aldrich Partners LLC increased its position in shares of Calavo Growers by 71.0% in the second quarter. Moody Aldrich Partners LLC now owns 24,050 shares of the company’s stock valued at $1,611,000 after buying an additional 9,985 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Calavo Growers by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 6,600 shares of the company’s stock valued at $442,000 after buying an additional 100 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Calavo Growers during the second quarter valued at $175,000. Institutional investors own 63.25% of the company’s stock.
Calavo Growers Company Profile
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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