Raymond James Financial Inc. Takes $709,000 Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Raymond James Financial Inc. bought a new stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,797 shares of the company's stock, valued at approximately $709,000. Raymond James Financial Inc. owned 0.16% of Calavo Growers at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in shares of Calavo Growers by 215.5% in the 3rd quarter. Jane Street Group LLC now owns 262,626 shares of the company's stock worth $7,493,000 after buying an additional 179,395 shares in the last quarter. JPMorgan Chase & Co. raised its position in Calavo Growers by 221.1% in the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock worth $3,533,000 after acquiring an additional 85,272 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Calavo Growers in the 4th quarter valued at about $1,371,000. Weiss Asset Management LP bought a new position in shares of Calavo Growers during the 3rd quarter valued at about $1,378,000. Finally, XTX Topco Ltd bought a new stake in shares of Calavo Growers in the 3rd quarter worth approximately $1,007,000. 81.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on CVGW shares. Lake Street Capital reduced their target price on shares of 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 lowered Calavo Growers from a "buy" rating to a "hold" rating in a research note on Tuesday.

Calavo Growers Trading Down 0.7 %

CVGW traded down $0.15 during trading on Thursday, reaching $22.74. The company had a trading volume of 159,685 shares, compared to its average volume of 208,758. The firm's 50-day simple moving average is $23.30 and its 200 day simple moving average is $25.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The company has a market cap of $405.61 million, a price-to-earnings ratio of -379.00 and a beta of 0.41. Calavo Growers, Inc. has a 12-month low of $20.30 and a 12-month high of $30.58.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last released 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 positive return on equity of 9.66% and a negative net margin of 0.16%. The firm had revenue of $169.96 million during the quarter, compared to analysts' expectations of $161.99 million. The business's revenue was up 19.5% on a year-over-year basis. During the same period last year, the business earned ($0.33) earnings per share. Equities research analysts anticipate that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's dividend payout ratio (DPR) is currently 148.15%.

Insider Activity

In related news, CFO James E. Snyder purchased 3,213 shares of the stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of $23.33 per share, for a total transaction of $74,959.29. Following the acquisition, the chief financial officer now directly owns 5,157 shares in the company, valued at approximately $120,312.81. The trade was a 165.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael A. Browne acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average price 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 of the company's stock, valued at $147,968. This represents a 357.14 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 14,213 shares of company stock worth $332,699 over the last quarter. Corporate insiders own 7.20% of the company's stock.

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.