Martingale Asset Management L P Invests $390,000 in Calavo Growers, Inc. (NASDAQ:CVGW)

Martingale Asset Management L P bought a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,297 shares of the company's stock, valued at approximately $390,000. Martingale Asset Management L P owned about 0.09% of Calavo Growers at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in Calavo Growers during the fourth quarter valued at about $1,371,000. JPMorgan Chase & Co. grew its holdings in Calavo Growers by 221.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock valued at $3,533,000 after buying an additional 85,272 shares during the last quarter. Magnetar Financial LLC bought a new position in Calavo Growers in the 4th quarter worth approximately $310,000. Raymond James Financial Inc. acquired a new position in shares of Calavo Growers during the fourth quarter worth approximately $709,000. Finally, Sei Investments Co. bought a new stake in shares of Calavo Growers in the fourth quarter valued at approximately $325,000. 81.30% of the stock is currently owned by institutional investors.

Calavo Growers Stock Performance

CVGW stock traded up $1.51 during midday trading on Friday, hitting $26.17. The stock had a trading volume of 455,049 shares, compared to its average volume of 210,966. Calavo Growers, Inc. has a 52 week low of $20.30 and a 52 week 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 stock has a 50-day simple moving average of $23.53 and a 200 day simple moving average of $25.24. The firm has a market capitalization of $466.79 million, a price-to-earnings ratio of -436.17 and a beta of 0.41.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its 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 0.16% and a positive return on equity of 9.66%. The business had revenue of $169.96 million for the quarter, compared to analyst estimates of $161.99 million. During the same quarter last year, the firm posted ($0.33) earnings per share. Calavo Growers's revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.06%. Calavo Growers's dividend payout ratio is currently 148.15%.

Insider Transactions at Calavo Growers

In related news, EVP Michael A. Browne acquired 5,000 shares of the business's stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of $23.12 per share, with a total value of $115,600.00. Following the completion of the acquisition, the executive vice president now owns 6,400 shares in the company, valued at $147,968. The trade was a 357.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lecil E. Cole bought 21,070 shares of Calavo Growers stock in a transaction dated Friday, April 11th. The stock was purchased at an average price of $23.73 per share, for a total transaction of $499,991.10. Following the purchase, the chief executive officer now directly owns 536,070 shares in the company, valued at $12,720,941.10. This represents a 4.09 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 73,438 shares of company stock valued at $1,771,303. Corporate insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVGW shares. 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. StockNews.com downgraded shares of Calavo Growers from a "buy" rating to a "hold" rating in a 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.