Moody Aldrich Partners LLC raised its stake in Calavo Growers Inc. (NASDAQ:CVGW) by 71.0% during the second quarter, Holdings Channel reports. The firm owned 24,050 shares of the company’s stock after buying an additional 9,985 shares during the period. Calavo Growers makes up about 1.3% of Moody Aldrich Partners LLC’s holdings, making the stock its 24th largest position. Moody Aldrich Partners LLC’s holdings in Calavo Growers were worth $1,611,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of CVGW. Louisiana State Employees Retirement System raised its position in 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 in the last quarter. Bank of Montreal Can purchased a new position in Calavo Growers during the second quarter valued at approximately $175,000. Eagle Asset Management Inc. raised its position in Calavo Growers by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 32,727 shares of the company’s stock valued at $2,192,000 after buying an additional 3,658 shares in the last quarter. Capstone Asset Management Co. raised its position in Calavo Growers by 13.7% in the second quarter. Capstone Asset Management Co. now owns 6,573 shares of the company’s stock valued at $440,000 after buying an additional 790 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Calavo Growers by 111.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the company’s stock valued at $311,000 after buying an additional 2,446 shares in the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.
Calavo Growers Inc. (NASDAQ:CVGW) traded up 0.18% during midday trading on Thursday, reaching $67.79. 155,670 shares of the company’s stock were exchanged. Calavo Growers Inc. has a 12 month low of $43.08 and a 12 month high of $71.48. The firm has a 50 day moving average of $63.62 and a 200-day moving average of $60.91. The stock has a market cap of $1.18 billion, a PE ratio of 35.11 and a beta of 0.51.
Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings data on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The business had revenue of $263.15 million for the quarter, compared to the consensus estimate of $243.80 million. Calavo Growers had a net margin of 3.75% and a return on equity of 16.80%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts predict that Calavo Growers Inc. will post $2.11 earnings per share for the current year.
Several equities analysts have commented on CVGW shares. DA Davidson reissued a “neutral” rating and issued a $56.00 target price on shares of Calavo Growers in a report on Sunday, June 5th. Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, June 7th. Lake Street Capital reissued a “buy” rating on shares of Calavo Growers in a report on Monday, June 6th. Wunderlich initiated coverage on shares of Calavo Growers in a report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Stephens lowered shares of Calavo Growers from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Calavo Growers presently has an average rating of “Buy” and a consensus price target of $65.69.
In other news, Director Donald M. Sanders sold 8,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $52.50, for a total value of $420,000.00. Following the sale, the director now directly owns 15,137 shares of the company’s stock, valued at $794,692.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth J. Catchot sold 35,647 shares of the stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $69.42, for a total transaction of $2,474,614.74. Following the completion of the sale, the insider now directly owns 441,472 shares in the company, valued at $30,646,986.24. The disclosure for this sale can be found here. Company insiders own 10.20% 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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