Bank of New York Mellon Corp Purchases 31,743 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Bank of New York Mellon Corp boosted its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,141 shares of the company's stock after purchasing an additional 31,743 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Calavo Growers worth $3,880,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nuance Investments LLC raised its stake in shares of Calavo Growers by 25.1% in the third quarter. Nuance Investments LLC now owns 1,636,969 shares of the company's stock valued at $46,703,000 after acquiring an additional 328,820 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Calavo Growers by 1.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 267,268 shares of the company's stock valued at $7,625,000 after acquiring an additional 4,307 shares during the period. Jane Street Group LLC raised its stake in shares of Calavo Growers by 215.5% in the third quarter. Jane Street Group LLC now owns 262,626 shares of the company's stock valued at $7,493,000 after acquiring an additional 179,395 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Calavo Growers by 221.1% in the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock valued at $3,533,000 after acquiring an additional 85,272 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Calavo Growers in the fourth quarter worth about $1,371,000. Hedge funds and other institutional investors own 81.30% of the company's stock.

Remove Ads

Calavo Growers Trading Down 1.0 %

Shares of NASDAQ CVGW traded down $0.25 during mid-day trading on Friday, reaching $24.06. The company had a trading volume of 253,959 shares, compared to its average volume of 200,403. The business's 50-day moving average is $23.39 and its 200-day moving average is $25.73. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market cap of $429.16 million, a price-to-earnings ratio of -401.00 and a beta of 0.57. Calavo Growers, Inc. has a 52 week low of $20.30 and a 52 week high of $30.58.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (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 business had revenue of $169.96 million for the quarter, compared to the consensus estimate of $161.99 million. During the same quarter in the previous year, the company earned ($0.33) earnings per share. The firm's revenue was up 19.5% on a year-over-year basis. Equities analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's payout ratio is 148.15%.

Analyst Ratings Changes

CVGW has been the topic of a number of research analyst reports. Lake Street Capital cut their price target on shares of Calavo Growers from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. StockNews.com cut shares of Calavo Growers from a "buy" rating to a "hold" rating in a report on Friday.

Calavo Growers Profile

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.