Calavo Growers (NASDAQ:CVGW) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Calavo Growers (NASDAQ:CVGW) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Lake Street Capital lowered their target price on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Calavo Growers Price Performance

CVGW stock opened at $24.06 on Friday. The business’s 50-day moving average is $23.39 and its two-hundred day moving average is $25.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The firm has a market capitalization of $429.16 million, a P/E ratio of -401.00 and a beta of 0.57. Calavo Growers has a 1 year low of $20.30 and a 1 year high of $30.58.

Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The firm had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same period last year, the business earned ($0.33) EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. Analysts anticipate that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, April 1st. Calavo Growers’s payout ratio is 148.15%.

Institutional Trading of Calavo Growers

Institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its position in shares of Calavo Growers by 0.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 268,228 shares of the company’s stock valued at $6,840,000 after buying an additional 960 shares during the last quarter. Point72 DIFC Ltd increased its position in shares of Calavo Growers by 42.3% during the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock worth $93,000 after purchasing an additional 973 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Calavo Growers by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,346 shares of the company’s stock worth $366,000 after purchasing an additional 991 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Calavo Growers in the 4th quarter valued at about $26,000. Finally, Van ECK Associates Corp boosted its position in shares of Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock valued at $65,000 after purchasing an additional 1,039 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

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.