Calavo Growers (NASDAQ:CVGW) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.69 and traded as high as $28.82. Calavo Growers shares last traded at $28.44, with a volume of 112,082 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Calavo Growers from a "sell" rating to a "hold" rating in a research note on Saturday, August 3rd.

Calavo Growers Stock Performance

The firm has a market cap of $498.76 million, a PE ratio of -56.88 and a beta of 0.58. The firm has a 50-day moving average price of $27.65 and a two-hundred day moving average price of $25.69. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.18.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its earnings results on Monday, September 9th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.21. Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. The business had revenue of $179.60 million during the quarter, compared to the consensus estimate of $175.00 million. Research analysts forecast that Calavo Growers, Inc. will post 1.31 EPS for the current fiscal year.

Calavo Growers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Wednesday, October 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Wednesday, October 2nd. This is an increase from Calavo Growers's previous quarterly dividend of $0.10. Calavo Growers's dividend payout ratio is -160.00%.

Institutional Investors Weigh In On Calavo Growers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Calavo Growers during the second quarter worth about $56,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Calavo Growers by 40.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company's stock valued at $87,000 after acquiring an additional 1,100 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Calavo Growers by 318.4% in the first quarter. EntryPoint Capital LLC now owns 5,380 shares of the company's stock worth $150,000 after purchasing an additional 4,094 shares in the last quarter. LMR Partners LLP bought a new position in shares of Calavo Growers in the 3rd quarter valued at approximately $253,000. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Calavo Growers by 13.8% in the first quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company's stock worth $274,000 after buying an additional 1,192 shares during 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.