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

StockNews.com downgraded shares of Calavo Growers (NASDAQ:CVGW - Free Report) from a buy rating to a hold rating in a report issued on Thursday.

Separately, Lake Street Capital lowered their price objective 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 Trading Up 4.1 %

Calavo Growers stock traded up $1.09 during trading on Thursday, reaching $27.75. The company had a trading volume of 427,349 shares, compared to its average volume of 213,332. Calavo Growers has a 12-month low of $20.30 and a 12-month high of $30.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The stock's 50 day moving average price is $23.73 and its two-hundred day moving average price is $25.18. The firm has a market capitalization of $494.98 million, a price-to-earnings ratio of -462.50 and a beta of 0.41.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's payout ratio is currently 148.15%.

Insider Buying and Selling

In related news, CEO Lecil E. Cole purchased 38,155 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average cost of $24.60 per share, for a total transaction of $938,613.00. Following the acquisition, the chief executive officer now owns 574,225 shares in the company, valued at approximately $14,125,935. This trade represents a 7.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James E. Snyder acquired 3,213 shares of the business's stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of $23.33 per share, for a total transaction of $74,959.29. Following the completion of the transaction, the chief financial officer now directly owns 5,157 shares of the company's stock, valued at $120,312.81. This trade represents a 165.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 73,438 shares of company stock valued at $1,771,303. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Calavo Growers

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in shares of Calavo Growers by 42.0% during the first quarter. SG Americas Securities LLC now owns 11,789 shares of the company's stock valued at $283,000 after purchasing an additional 3,489 shares during the period. Wedge Capital Management L L P NC grew its holdings in Calavo Growers by 29.4% during the 1st quarter. Wedge Capital Management L L P NC now owns 44,254 shares of the company's stock valued at $1,062,000 after purchasing an additional 10,054 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Calavo Growers by 1,994.0% in the 1st quarter. GAMMA Investing LLC now owns 13,171 shares of the company's stock worth $316,000 after buying an additional 12,542 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Calavo Growers by 626.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,118 shares of the company's stock valued at $182,000 after buying an additional 6,138 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Calavo Growers by 12.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,683 shares of the company's stock valued at $706,000 after buying an additional 3,141 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

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.