Nuance Investments LLC Raises Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Nuance Investments LLC raised its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,663,515 shares of the company's stock after purchasing an additional 26,546 shares during the period. Calavo Growers accounts for approximately 1.7% of Nuance Investments LLC's investment portfolio, making the stock its 19th biggest holding. Nuance Investments LLC owned about 9.32% of Calavo Growers worth $42,420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. DRW Securities LLC acquired a new position in Calavo Growers during the 3rd quarter valued at about $401,000. Quantbot Technologies LP acquired a new position in shares of Calavo Growers during the third quarter valued at about $357,000. BNP Paribas Financial Markets raised its position in shares of Calavo Growers by 54.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,473 shares of the company's stock valued at $1,183,000 after purchasing an additional 14,568 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Calavo Growers during the third quarter worth $746,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Calavo Growers by 3,518.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,788 shares of the company's stock worth $707,000 after acquiring an additional 24,103 shares during the period. Hedge funds and other institutional investors own 81.30% of the company's stock.

Remove Ads

Calavo Growers Stock Performance

Calavo Growers stock traded down $0.28 during mid-day trading on Friday, hitting $24.22. The company had a trading volume of 96,713 shares, compared to its average volume of 206,626. The company has a market capitalization of $432.01 million, a price-to-earnings ratio of -403.67 and a beta of 0.57. Calavo Growers, Inc. has a 12-month low of $20.30 and a 12-month high of $30.58. The company's fifty day moving average is $23.39 and its 200-day moving average is $25.74. 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 (NASDAQ:CVGW - Get Free Report) last announced its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $169.96 million for the quarter, compared to analysts' expectations of $161.99 million. During the same period last year, the company posted ($0.33) earnings per share. The business's quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts predict that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.30%. Calavo Growers's dividend payout ratio is presently 148.15%.

Analyst Ratings Changes

Several research analysts recently issued reports on CVGW shares. Lake Street Capital reduced their target price on shares of Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. StockNews.com lowered Calavo Growers from a "buy" rating to a "hold" rating in a research note on Friday, March 21st.

Calavo Growers Company 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.