Calavo Growers, Inc. (NASDAQ:CVGW) Short Interest Down 14.8% in February

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 375,300 shares, a decline of 14.8% from the January 31st total of 440,300 shares. Based on an average daily trading volume, of 175,000 shares, the short-interest ratio is presently 2.1 days. Approximately 2.2% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, 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.

Calavo Growers Price Performance

CVGW stock traded up $0.94 during trading on Friday, hitting $23.60. The stock had a trading volume of 133,049 shares, compared to its average volume of 193,376. The company's 50 day moving average price is $23.70 and its two-hundred day moving average price is $25.78. Calavo Growers has a 1-year low of $20.30 and a 1-year high of $31.26. The stock has a market cap of $420.95 million, a price-to-earnings ratio of -393.33 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced 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 firm had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same period in the previous year, the firm posted ($0.33) EPS. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, sell-side analysts forecast that Calavo Growers will post 1.87 EPS for the current fiscal year.

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Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Friday, January 10th. Calavo Growers's dividend payout ratio is currently -1,333.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVGW. R Squared Ltd acquired a new position in shares of Calavo Growers during the 4th quarter valued at about $26,000. Van ECK Associates Corp increased its stake in shares of Calavo Growers by 69.1% during the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after acquiring an additional 1,039 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Calavo Growers during the 4th quarter valued at about $76,000. Aquatic Capital Management LLC acquired a new position in shares of Calavo Growers during the 4th quarter valued at about $86,000. Finally, Point72 DIFC Ltd increased its stake 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 valued at $93,000 after acquiring an additional 973 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

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.