Calavo Growers, Inc. to Issue Quarterly Dividend of $0.20 (NASDAQ:CVGW)

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.20 per share on Tuesday, April 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Tuesday, April 1st.

Calavo Growers has decreased its dividend by an average of 19.5% annually over the last three years. Calavo Growers has a payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW traded up $0.68 during midday trading on Monday, hitting $23.83. The company had a trading volume of 219,837 shares, compared to its average volume of 199,520. Calavo Growers has a twelve month low of $20.30 and a twelve month high of $30.58. The stock has a market cap of $424.17 million, a price-to-earnings ratio of -397.17 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The business's 50-day simple moving average is $23.35 and its 200-day simple moving average is $25.73.

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 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 company had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same period last year, the business earned ($0.33) earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. On average, research analysts predict that Calavo Growers will post 1.87 earnings per share for the current year.

Remove Ads

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Lake Street Capital dropped their price target on shares of Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. StockNews.com upgraded Calavo Growers from a "hold" rating to a "buy" rating in a research report on Thursday.

About Calavo Growers

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.