Renaissance Technologies LLC Decreases Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Renaissance Technologies LLC lowered its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 10.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 275,720 shares of the company’s stock after selling 32,900 shares during the quarter. Renaissance Technologies LLC owned about 1.55% of Calavo Growers worth $7,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVGW. Russell Investments Group Ltd. increased its stake in Calavo Growers by 6.9% in the fourth quarter. Russell Investments Group Ltd. now owns 335,914 shares of the company’s stock valued at $8,566,000 after purchasing an additional 21,584 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Calavo Growers by 19.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,942 shares of the company’s stock valued at $305,000 after buying an additional 1,969 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new position in shares of Calavo Growers in the 4th quarter valued at $286,000. ExodusPoint Capital Management LP raised its stake in Calavo Growers by 65.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 34,162 shares of the company’s stock worth $871,000 after acquiring an additional 13,531 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Calavo Growers by 104.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,960 shares of the company’s stock valued at $3,849,000 after acquiring an additional 77,220 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insider Transactions at Calavo Growers

In other Calavo Growers news, EVP Michael A. Browne bought 6,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was acquired at an average cost of $23.69 per share, with a total value of $142,140.00. Following the purchase, the executive vice president now owns 7,500 shares in the company, valued at approximately $177,675. This represents a 400.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lecil E. Cole purchased 38,155 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average price of $24.60 per share, for a total transaction of $938,613.00. Following the completion of the purchase, the chief executive officer now owns 574,225 shares of the company’s stock, valued at approximately $14,125,935. This represents a 7.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 73,438 shares of company stock worth $1,771,303. Company insiders own 7.20% of the company’s stock.

Calavo Growers Stock Performance

Shares of CVGW stock opened at $26.17 on Friday. The stock’s 50-day moving average price is $23.59 and its 200 day moving average price is $25.22. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $466.79 million, a PE ratio of -436.17 and a beta of 0.41. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same period in the previous year, the firm posted ($0.33) EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. Calavo Growers’s payout ratio is currently 148.15%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com lowered Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday. Lake Street Capital reduced their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

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.