Stephens Investment Management Group LLC lowered its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 779,618 shares of the company’s stock after selling 2,835 shares during the period. Calavo Growers comprises about 1.3% of Stephens Investment Management Group LLC’s holdings, making the stock its 15th largest holding. Stephens Investment Management Group LLC owned approximately 4.45% of Calavo Growers worth $57,068,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Pinebridge Investments L.P. lifted its stake in Calavo Growers by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after purchasing an additional 29 shares during the last quarter. Renaissance Group LLC lifted its stake in Calavo Growers by 1.2% during the second quarter. Renaissance Group LLC now owns 5,762 shares of the company’s stock worth $398,000 after purchasing an additional 68 shares during the last quarter. Arizona State Retirement System lifted its stake in Calavo Growers by 1.3% during the second quarter. Arizona State Retirement System now owns 8,063 shares of the company’s stock worth $557,000 after purchasing an additional 100 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Calavo Growers by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 29,938 shares of the company’s stock valued at $2,067,000 after acquiring an additional 106 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Calavo Growers by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,620 shares of the company’s stock valued at $250,000 after acquiring an additional 120 shares during the last quarter. 88.22% of the stock is owned by hedge funds and other institutional investors.
CVGW has been the subject of a number of recent research reports. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Tuesday, August 22nd. Buckingham Research lowered their target price on Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, August 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Calavo Growers currently has an average rating of “Buy” and a consensus price target of $79.40.
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In related news, insider James E. Snyder sold 750 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $70.19, for a total transaction of $52,642.50. Following the transaction, the insider now owns 11,095 shares in the company, valued at approximately $778,758.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.90% of the stock is owned by insiders.
Calavo Growers, Inc. (CVGW) traded up $0.30 during midday trading on Monday, hitting $73.55. The stock had a trading volume of 75,700 shares, compared to its average volume of 161,729. Calavo Growers, Inc. has a 12 month low of $48.75 and a 12 month high of $76.85. The company has a market cap of $1,289.56, a price-to-earnings ratio of 34.86 and a beta of 0.65.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Wednesday, September 6th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Calavo Growers had a return on equity of 16.07% and a net margin of 3.46%. The company had revenue of $301.65 million during the quarter, compared to analyst estimates of $278.66 million. During the same quarter in the previous year, the company posted $0.73 EPS. Calavo Growers’s revenue for the quarter was up 14.6% on a year-over-year basis. research analysts expect that Calavo Growers, Inc. will post 2.05 EPS for the current year.
The firm also recently declared an annual dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a dividend of $0.95 per share. This represents a yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Calavo Growers’s previous annual dividend of $0.90. Calavo Growers’s payout ratio is currently 45.89%.
Calavo Growers Company Profile
Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).
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