Victory Capital Management Inc. lifted its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 1,869.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 52,944 shares of the company’s stock after buying an additional 50,256 shares during the quarter. Victory Capital Management Inc.’s holdings in Calavo Growers were worth $4,468,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Calavo Growers by 50.0% in the 3rd quarter. SG Americas Securities LLC now owns 2,774 shares of the company’s stock worth $203,000 after purchasing an additional 925 shares in the last quarter. Creative Planning acquired a new stake in Calavo Growers in the 4th quarter worth approximately $248,000. Piedmont Investment Advisors LLC acquired a new stake in Calavo Growers in the 2nd quarter worth approximately $230,000. PNC Financial Services Group Inc. boosted its stake in Calavo Growers by 62.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,527 shares of the company’s stock worth $244,000 after purchasing an additional 1,358 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Calavo Growers in the 3rd quarter worth approximately $260,000. 92.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Calavo Growers, Inc. (NASDAQ CVGW) opened at $88.95 on Friday. The company has a market cap of $1,559.56, a P/E ratio of 41.76 and a beta of 0.68. Calavo Growers, Inc. has a 12 month low of $48.75 and a 12 month high of $90.85.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, December 19th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. The company had revenue of $277.20 million during the quarter, compared to analysts’ expectations of $297.40 million. Calavo Growers had a net margin of 3.47% and a return on equity of 16.01%. Calavo Growers’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. research analysts expect that Calavo Growers, Inc. will post 2.96 EPS for the current year.
In other Calavo Growers news, insider James E. Gibson sold 10,000 shares of Calavo Growers stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the completion of the sale, the insider now directly owns 61,991 shares in the company, valued at approximately $4,905,967.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $85.05, for a total transaction of $85,050.00. Following the sale, the director now owns 9,600 shares of the company’s stock, valued at $816,480. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
A number of research firms recently commented on CVGW. Stephens lifted their target price on shares of Calavo Growers from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. BidaskClub upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $91.00 target price (up from $76.00) on shares of Calavo Growers in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $88.00.
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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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