Brevan Howard Capital Management LP Reduces Stock Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Brevan Howard Capital Management LP reduced its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 56.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,092 shares of the company’s stock after selling 11,700 shares during the quarter. Brevan Howard Capital Management LP owned approximately 0.05% of Calavo Growers worth $232,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. 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 valued at $366,000 after buying an additional 991 shares during the period. R Squared Ltd bought a new stake in Calavo Growers during the 4th quarter valued at approximately $26,000. Van ECK Associates Corp grew its holdings in shares of Calavo Growers by 69.1% during the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock worth $65,000 after acquiring an additional 1,039 shares during the period. Inspire Investing LLC raised its position in shares of Calavo Growers by 9.2% in the 4th quarter. Inspire Investing LLC now owns 15,713 shares of the company’s stock worth $401,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake 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 purchasing an additional 1,969 shares during the period. 81.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael A. Browne acquired 5,000 shares of Calavo Growers stock in a transaction on Thursday, April 10th. The stock was acquired at an average cost of $23.12 per share, for a total transaction of $115,600.00. Following the purchase, the executive vice president now owns 6,400 shares in the company, valued at $147,968. This trade represents a 357.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lecil E. Cole bought 38,155 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was purchased at an average price of $24.60 per share, for a total transaction of $938,613.00. Following 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 position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 73,438 shares of company stock valued at $1,771,303. 7.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVGW shares. Lake Street Capital reduced their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. StockNews.com raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th.

Calavo Growers Price Performance

CVGW stock opened at $25.53 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The firm has a 50 day moving average price of $24.62 and a 200-day moving average price of $25.06. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The firm has a market capitalization of $455.38 million, a price-to-earnings ratio of -425.50 and a beta of 0.42.

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Tuesday, April 1st. Calavo Growers’s payout ratio is 148.15%.

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.