Calavo Growers, Inc. (NASDAQ:CVGW) Sees Significant Growth in Short Interest

Calavo Growers, Inc. (NASDAQ:CVGW) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 1,093,353 shares, a growth of 51.8% from the January 15th total of 720,472 shares. Based on an average trading volume of 896,335 shares, the days-to-cover ratio is currently 1.2 days. Currently, 6.6% of the shares of the stock are short sold. Currently, 6.6% of the shares of the stock are short sold. Based on an average trading volume of 896,335 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Ratings Changes

Several research analysts have issued reports on CVGW shares. Stephens dropped their price target on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Calavo Growers in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Calavo Growers currently has a consensus rating of “Hold” and an average target price of $33.50.

Calavo Growers Stock Up 3.0%

Shares of NASDAQ:CVGW traded up $0.75 during midday trading on Monday, hitting $26.07. 380,852 shares of the stock were exchanged, compared to its average volume of 535,683. The company has a market capitalization of $465.87 million, a PE ratio of 23.70 and a beta of 0.39. Calavo Growers has a 52-week low of $18.40 and a 52-week high of $28.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.47. The business’s fifty day simple moving average is $23.32 and its two-hundred day simple moving average is $24.19.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Wednesday, January 14th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). Calavo Growers had a net margin of 3.05% and a return on equity of 13.43%. The business had revenue of $124.68 million for the quarter, compared to the consensus estimate of $147.95 million. As a group, research analysts predict that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s dividend payout ratio is 72.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in shares of Calavo Growers by 32.1% during the second quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company’s stock worth $10,284,000 after buying an additional 94,073 shares during the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Calavo Growers in the 3rd quarter valued at $1,794,000. Pinnacle Associates Ltd. boosted its position in shares of Calavo Growers by 91.0% in the 2nd quarter. Pinnacle Associates Ltd. now owns 40,351 shares of the company’s stock worth $1,073,000 after purchasing an additional 19,226 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Calavo Growers during the second quarter worth $803,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Calavo Growers by 39.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,205 shares of the company’s stock valued at $457,000 after purchasing an additional 4,843 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.