Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) CEO Lecil E. Cole acquired 38,155 shares of the stock in a transaction dated Monday, April 14th. The shares were purchased at an average cost of $24.60 per share, with a total value 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. The trade was a 7.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Calavo Growers Trading Up 6.1 %
NASDAQ:CVGW opened at $26.17 on Friday. The company has a 50-day moving average price of $23.53 and a 200-day moving average price of $25.24. The stock has a market cap of $466.79 million, a price-to-earnings ratio of -436.17 and a beta of 0.41. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a 12 month low of $20.30 and a 12 month high of $30.58.
Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The company had revenue of $169.96 million during the quarter, compared to analysts' expectations of $161.99 million. During the same quarter last year, the business earned ($0.33) earnings per share. The business's quarterly revenue was up 19.5% on a year-over-year basis. Equities analysts predict that Calavo Growers, Inc. will post 1.87 EPS for the current year.
Calavo Growers Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's payout ratio is presently 148.15%.
Institutional Investors Weigh In On Calavo Growers
Several hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Calavo Growers during the fourth quarter valued at $26,000. Van ECK Associates Corp lifted its position in Calavo Growers by 69.1% during the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after acquiring an additional 1,039 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Calavo Growers during the 4th quarter valued at about $76,000. Aquatic Capital Management LLC bought a new stake in Calavo Growers during the fourth quarter worth about $86,000. Finally, State of Wyoming purchased a new stake in Calavo Growers in the fourth quarter worth about $99,000. 81.30% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
CVGW has been the subject of a number of recent analyst reports. Lake Street Capital lowered their price target on Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. StockNews.com downgraded Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday.
View Our Latest Report on CVGW
Calavo Growers Company Profile
(
Get Free Report)
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.
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