50,000 Shares in Calavo Growers, Inc. (NASDAQ:CVGW) Purchased by Norges Bank

Norges Bank acquired a new stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company's stock, valued at approximately $1,275,000. Norges Bank owned 0.28% of Calavo Growers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of Calavo Growers in the fourth quarter worth $1,371,000. JPMorgan Chase & Co. grew its position in shares of Calavo Growers by 221.1% during the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock worth $3,533,000 after buying an additional 85,272 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Calavo Growers during the fourth quarter worth approximately $310,000. Raymond James Financial Inc. purchased a new stake in shares of Calavo Growers in the 4th quarter valued at approximately $709,000. Finally, Barclays PLC lifted its position in shares of Calavo Growers by 338.3% during the 3rd quarter. Barclays PLC now owns 26,625 shares of the company's stock worth $759,000 after purchasing an additional 20,551 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CVGW shares. Lake Street Capital decreased their price target on Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. StockNews.com downgraded Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday.

Insider Activity

In related news, CEO Lecil E. Cole bought 21,070 shares of the company's stock in a transaction dated Friday, April 11th. The shares were acquired at an average price of $23.73 per share, with a total value of $499,991.10. Following the completion of the acquisition, the chief executive officer now owns 536,070 shares in the company, valued at approximately $12,720,941.10. This trade represents a 4.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael A. Browne acquired 5,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average price of $23.12 per share, for a total transaction of $115,600.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders have acquired 35,283 shares of company stock valued at $832,690 in the last ninety days. 7.20% of the stock is currently owned by company insiders.

Calavo Growers Stock Performance

CVGW traded up $0.29 on Thursday, reaching $24.95. The company had a trading volume of 29,305 shares, compared to its average volume of 209,290. The stock has a 50-day moving average price of $23.46 and a 200-day moving average price of $25.25. The stock has a market capitalization of $444.98 million, a PE ratio of -414.67 and a beta of 0.41. Calavo Growers, Inc. has a 1 year low of $20.30 and a 1 year high of $30.58. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02.

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

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.21%. Calavo Growers's dividend payout ratio (DPR) is presently 148.15%.

Calavo Growers 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.