Teacher Retirement System of Texas purchased a new stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,340 shares of the company's stock, valued at approximately $315,000. Teacher Retirement System of Texas owned 0.07% of Calavo Growers as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Jane Street Group LLC grew its position in shares of Calavo Growers by 215.5% in the third quarter. Jane Street Group LLC now owns 262,626 shares of the company's stock valued at $7,493,000 after purchasing an additional 179,395 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Calavo Growers by 221.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock valued at $3,533,000 after purchasing an additional 85,272 shares during the period. Assenagon Asset Management S.A. acquired a new position in Calavo Growers in the 4th quarter valued at $1,371,000. Weiss Asset Management LP bought a new position in Calavo Growers during the 3rd quarter worth $1,378,000. Finally, XTX Topco Ltd acquired a new stake in shares of Calavo Growers during the third quarter worth $1,007,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. StockNews.com raised shares of Calavo Growers from a "hold" rating to a "buy" rating in a research report on Monday. Lake Street Capital lowered their price objective on Calavo Growers from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th.
Get Our Latest Research Report on Calavo Growers
Calavo Growers Price Performance
CVGW stock traded down $0.28 during midday trading on Friday, reaching $23.58. The company had a trading volume of 168,454 shares, compared to its average volume of 207,180. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $30.58. The stock has a 50 day moving average price of $23.36 and a 200-day moving average price of $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 capitalization of $420.60 million, a price-to-earnings ratio of -393.00 and a beta of 0.41.
Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). The firm had revenue of $169.96 million for the quarter, compared to the consensus estimate of $161.99 million. Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The business's revenue was up 19.5% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. Equities research analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.
Calavo Growers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's dividend payout ratio is presently 148.15%.
Insider Activity
In other Calavo Growers news, EVP Michael A. Browne acquired 6,000 shares of Calavo Growers stock in a transaction that occurred on Wednesday, April 2nd. The shares were acquired at an average cost of $23.69 per share, with a total value of $142,140.00. Following the completion of the purchase, the executive vice president now directly owns 7,500 shares of the company's stock, valued at $177,675. This represents a 400.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.20% of the company's stock.
About Calavo Growers
(
Free Report)
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.
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