Calavo Growers (NASDAQ:CVGW) Issues Quarterly Earnings Results

Calavo Growers (NASDAQ:CVGW) released its quarterly earnings data on Wednesday. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12), Zacks reports. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.

Calavo Growers Trading Up 1.7%

NASDAQ CVGW traded up $0.38 during trading hours on Wednesday, reaching $22.58. The company’s stock had a trading volume of 331,768 shares, compared to its average volume of 249,559. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.30 and a quick ratio of 1.86. Calavo Growers has a 52 week low of $18.40 and a 52 week high of $28.72. The firm has a fifty day simple moving average of $21.11 and a 200-day simple moving average of $24.42. The stock has a market cap of $403.05 million, a P/E ratio of 25.66 and a beta of 0.37.

Calavo Growers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, January 13th. Calavo Growers’s payout ratio is 90.91%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Calavo Growers in a research report on Monday, December 29th. 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.

Hedge Funds Weigh In On Calavo Growers

A number of hedge funds and other institutional investors have recently made changes to their positions in CVGW. Quarry LP bought a new position in Calavo Growers during the third quarter worth $28,000. Tower Research Capital LLC TRC increased its stake in Calavo Growers by 673.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock valued at $74,000 after purchasing an additional 2,416 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Calavo Growers by 23.1% during the third quarter. Van ECK Associates Corp now owns 3,648 shares of the company’s stock valued at $94,000 after purchasing an additional 685 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Calavo Growers by 23.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,299 shares of the company’s stock worth $188,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Calavo Growers by 224.8% in the 2nd quarter. Lazard Asset Management LLC now owns 7,468 shares of the company’s stock valued at $198,000 after buying an additional 5,169 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

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.