Penn Capital Management Company LLC Buys 58,995 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Penn Capital Management Company LLC raised its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 54.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,344 shares of the company's stock after buying an additional 58,995 shares during the period. Penn Capital Management Company LLC owned about 0.94% of Calavo Growers worth $4,293,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in Calavo Growers during the 4th quarter valued at about $26,000. Van ECK Associates Corp lifted its position in Calavo Growers by 69.1% during the fourth quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after purchasing an additional 1,039 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Calavo Growers in the fourth quarter worth about $76,000. Tower Research Capital LLC TRC lifted its stake in shares of Calavo Growers by 139.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,393 shares of the company's stock valued at $138,000 after purchasing an additional 3,141 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in Calavo Growers in the fourth quarter worth $247,000. Institutional investors own 81.30% of the company's stock.

Calavo Growers Stock Performance

Shares of NASDAQ CVGW traded down $0.41 during mid-day trading on Monday, hitting $26.80. 151,050 shares of the company were exchanged, compared to its average volume of 214,687. 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. The stock has a 50 day simple moving average of $23.94 and a 200-day simple moving average of $25.15. The firm has a market cap of $478.03 million, a price-to-earnings ratio of -446.67 and a beta of 0.41.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.99%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's dividend payout ratio (DPR) is presently 148.15%.

Insider Activity at Calavo Growers

In related news, EVP Michael A. Browne acquired 6,000 shares of Calavo Growers stock in a transaction that occurred on Wednesday, April 2nd. The stock was acquired at an average price of $23.69 per share, with a total value of $142,140.00. Following the completion of the acquisition, the executive vice president now directly owns 7,500 shares of the company's stock, valued at $177,675. This trade represents a 400.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James E. Snyder purchased 3,213 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average price of $23.33 per share, with a total value of $74,959.29. Following the transaction, the chief financial officer now directly owns 5,157 shares in the company, 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 ninety days, insiders have purchased 73,438 shares of company stock worth $1,771,303. 7.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVGW has been the topic of several recent research reports. Lake Street Capital dropped their target price on shares of Calavo Growers from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. StockNews.com lowered Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday, April 17th.

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.