Calavo Growers (NASDAQ:CVGW) Upgraded by StockNews.com to "Buy" Rating

StockNews.com upgraded shares of Calavo Growers (NASDAQ:CVGW - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

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 report on Wednesday, January 15th.

Calavo Growers Stock Down 2.3 %

NASDAQ:CVGW traded down $0.55 during trading hours on Monday, reaching $23.31. The company's stock had a trading volume of 52,606 shares, compared to its average volume of 206,739. Calavo Growers has a one year low of $20.30 and a one year high of $30.58. The business's 50-day moving average is $23.36 and its 200-day moving average is $25.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The company has a market cap of $415.78 million, a price-to-earnings ratio of -387.42 and a beta of 0.41.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $169.96 million for the quarter, compared to analyst estimates of $161.99 million. During the same period in the prior year, the company posted ($0.33) EPS. The business's revenue was up 19.5% on a year-over-year basis. Equities research analysts predict that Calavo Growers will post 1.87 EPS for the current year.

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Calavo Growers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's dividend payout ratio (DPR) is currently 148.15%.

Insider Buying and Selling at Calavo Growers

In related news, EVP Michael A. Browne acquired 6,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 7,500 shares of the company's stock, valued at approximately $177,675. This represents a 400.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Calavo Growers

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVGW. R Squared Ltd acquired a new stake in shares of Calavo Growers during the 4th quarter worth approximately $26,000. Van ECK Associates Corp lifted its position in Calavo Growers by 69.1% in the fourth quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock worth $65,000 after purchasing an additional 1,039 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Calavo Growers during the fourth quarter worth $76,000. Point72 DIFC Ltd boosted its stake in Calavo Growers by 42.3% during the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company's stock worth $93,000 after buying an additional 973 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Calavo Growers in the 4th quarter valued at $86,000. 81.30% of the stock is currently owned by institutional investors.

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.