Jackson Financial Management lessened its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 30.4% during the third quarter, HoldingsChannel.com reports. The firm owned 3,000 shares of the company’s stock after selling 1,309 shares during the quarter. Jackson Financial Management’s holdings in Calavo Growers were worth $290,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of CVGW. Brown Advisory Inc. lifted its holdings in shares of Calavo Growers by 5,534.0% during the first quarter. Brown Advisory Inc. now owns 485,256 shares of the company’s stock worth $44,739,000 after purchasing an additional 476,643 shares during the period. BlackRock Inc. lifted its holdings in shares of Calavo Growers by 11.1% during the second quarter. BlackRock Inc. now owns 2,306,604 shares of the company’s stock worth $221,781,000 after purchasing an additional 231,375 shares during the period. Copper Rock Capital Partners LLC lifted its holdings in shares of Calavo Growers by 198.5% during the second quarter. Copper Rock Capital Partners LLC now owns 213,402 shares of the company’s stock worth $20,295,000 after purchasing an additional 141,914 shares during the period. Cortina Asset Management LLC lifted its holdings in shares of Calavo Growers by 58.7% during the second quarter. Cortina Asset Management LLC now owns 293,504 shares of the company’s stock worth $28,220,000 after purchasing an additional 108,551 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Calavo Growers by 48.0% during the first quarter. Royal Bank of Canada now owns 208,618 shares of the company’s stock worth $19,234,000 after purchasing an additional 67,656 shares during the period. Institutional investors own 89.44% of the company’s stock.
In related news, Chairman Lecil E. Cole sold 100,296 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $103.68, for a total value of $10,398,689.28. Following the transaction, the chairman now owns 571,071 shares in the company, valued at $59,208,641.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Der Kar Scott Van sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,639 shares of company stock worth $10,531,528. 8.40% of the stock is owned by company insiders.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Wednesday, September 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. The business had revenue of $296.50 million for the quarter, compared to analyst estimates of $305.12 million. Calavo Growers had a net margin of 4.04% and a return on equity of 18.68%. Calavo Growers’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. Equities analysts anticipate that Calavo Growers, Inc. will post 2.87 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a $1.00 dividend. This is a positive change from Calavo Growers’s previous annual dividend of $0.95. The ex-dividend date is Thursday, November 15th. This represents a yield of 1%. Calavo Growers’s payout ratio is presently 44.60%.
CVGW has been the topic of a number of recent research reports. Buckingham Research lowered shares of Calavo Growers from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a report on Tuesday, September 4th. They noted that the move was a valuation call. BidaskClub lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Zacks Investment Research lowered shares of Calavo Growers from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Lake Street Capital set a $109.00 price target on shares of Calavo Growers and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, Vertical Group lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Calavo Growers has a consensus rating of “Hold” and a consensus price target of $101.50.
Calavo Growers Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.
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