Calavo Growers (NASDAQ:CVGW) Downgraded to Hold Rating by StockNews.com

Calavo Growers (NASDAQ:CVGW - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

Separately, Lake Street Capital cut their target price 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.

Calavo Growers Stock Down 1.8 %

Shares of Calavo Growers stock traded down $0.44 on Friday, reaching $23.62. 163,749 shares of the company were exchanged, compared to its average volume of 200,527. Calavo Growers has a one year low of $20.30 and a one year high of $30.58. 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 company has a 50-day moving average of $23.39 and a 200 day moving average of $25.77. The company has a market capitalization of $421.31 million, a price-to-earnings ratio of -393.67 and a beta of 0.57.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The firm had revenue of $169.96 million during the quarter, compared to the consensus estimate of $161.99 million. During the same period last year, the business earned ($0.33) EPS. The business's revenue was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that Calavo Growers will post 1.87 earnings per share for the current year.

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Institutional Trading of Calavo Growers

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of Calavo Growers by 215.5% in the 3rd quarter. Jane Street Group LLC now owns 262,626 shares of the company's stock valued at $7,493,000 after purchasing an additional 179,395 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Calavo Growers by 26.8% in the fourth quarter. American Century Companies Inc. now owns 445,817 shares of the company's stock valued at $11,368,000 after buying an additional 94,221 shares during the period. JPMorgan Chase & Co. increased its position in Calavo Growers by 221.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock valued at $3,533,000 after purchasing an additional 85,272 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Calavo Growers by 104.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,960 shares of the company's stock worth $3,849,000 after buying an additional 77,220 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Calavo Growers by 363.0% in the 4th quarter. Squarepoint Ops LLC now owns 78,538 shares of the company's stock worth $2,003,000 after acquiring an additional 61,574 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

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.