Calavo Growers (NASDAQ:CVGW) Stock Price Up 5%

Calavo Growers, Inc. (NASDAQ:CVGW)’s stock price traded up 5% during mid-day trading on Friday . The stock traded as high as $28.14 and last traded at $28.11. 126,233 shares were traded during trading, a decline of 29% from the average session volume of 177,038 shares. The stock had previously closed at $26.78.

Wall Street Analysts Forecast Growth

Separately, Stephens restated an “equal weight” rating and set a $32.00 price objective on shares of Calavo Growers in a report on Wednesday, January 17th.

Calavo Growers Trading Up 5.0 %

The firm’s fifty day moving average price is $27.71 and its 200-day moving average price is $26.82. The company has a current ratio of 2.03, a quick ratio of 1.70 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.18). The company had revenue of $127.60 million for the quarter, compared to the consensus estimate of $254.25 million. Calavo Growers had a positive return on equity of 0.49% and a negative net margin of 1.32%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, research analysts expect that Calavo Growers, Inc. will post 1.04 earnings per share for the current year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 1st will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. Calavo Growers’s payout ratio is currently -60.61%.

Institutional Trading of Calavo Growers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVGW. Carmel Capital Partners LLC bought a new stake in Calavo Growers in the third quarter valued at about $25,000. Point72 Hong Kong Ltd bought a new stake in Calavo Growers in the first quarter valued at about $37,000. FMR LLC grew its stake in Calavo Growers by 102.2% during the second quarter. FMR LLC now owns 910 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Calavo Growers during the fourth quarter worth about $62,000. Finally, Captrust Financial Advisors grew its stake in Calavo Growers by 17.0% during the second quarter. Captrust Financial Advisors now owns 2,089 shares of the company’s stock worth $87,000 after buying an additional 303 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

About Calavo Growers

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.