Calavo Growers, Inc. Announces Quarterly Dividend of $0.20 (NASDAQ:CVGW)

Calavo Growers, Inc. (NASDAQ:CVGW) declared a quarterly dividend on Wednesday, December 31st. Shareholders of record on Tuesday, January 13th will be given a dividend of 0.20 per share on Friday, January 30th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, January 13th.

Calavo Growers has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Calavo Growers has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Price Performance

NASDAQ CVGW opened at $21.75 on Friday. Calavo Growers has a 1 year low of $18.40 and a 1 year high of $28.72. The business’s fifty day moving average is $21.25 and its two-hundred day moving average is $24.75. The stock has a market capitalization of $388.24 million, a P/E ratio of 24.72 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.86 and a current ratio of 2.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVGW shares. Stephens raised Calavo Growers to a “hold” rating in a report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Calavo Growers in a report on Monday. Lake Street Capital boosted their price target on shares of Calavo Growers from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Wall Street Zen downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Calavo Growers currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Calavo Growers Company Profile

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.