Calavo Growers, Inc. (NASDAQ:CVGW) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 221.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,841 shares of the company's stock after purchasing an additional 85,272 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.70% of Calavo Growers worth $3,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Point72 DIFC Ltd raised its holdings in shares of Calavo Growers by 42.3% during the 3rd quarter. Point72 DIFC Ltd now owns 3,272 shares of the company's stock worth $93,000 after acquiring an additional 973 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Calavo Growers during the 3rd quarter valued at about $219,000. LMR Partners LLP purchased a new stake in shares of Calavo Growers in the 3rd quarter worth $253,000. Inspire Investing LLC bought a new position in shares of Calavo Growers during the second quarter valued at approximately $346,000. Finally, Quantbot Technologies LP purchased a new position in shares of Calavo Growers in the 3rd quarter valued at $357,000. Institutional investors own 81.30% of the company's stock.

Calavo Growers Stock Performance

Shares of CVGW traded up $0.37 during trading hours on Friday, reaching $24.69. 357,635 shares of the company traded hands, compared to its average volume of 132,068. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.04 and a quick ratio of 1.77. The business has a fifty day moving average price of $26.02 and a 200-day moving average price of $25.68. Calavo Growers, Inc. has a 12-month low of $20.30 and a 12-month high of $31.26.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. The firm had revenue of $169.96 million for the quarter, compared to analysts' expectations of $161.99 million. During the same quarter in the previous year, the firm posted ($0.33) EPS. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, sell-side analysts predict that Calavo Growers, Inc. will post 1.31 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.24%. Calavo Growers's payout ratio is -160.00%.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital decreased 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 report on Wednesday.

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.