Calavo Growers, Inc. (NASDAQ:CVGW) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 53.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 250,363 shares of the company’s stock after selling 291,487 shares during the period. Bank of New York Mellon Corp owned approximately 1.42% of Calavo Growers worth $15,879,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Deutsche Bank AG grew its holdings in shares of Calavo Growers by 51.2% in the second quarter. Deutsche Bank AG now owns 18,909 shares of the company’s stock valued at $1,200,000 after purchasing an additional 6,403 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Calavo Growers by 1.4% in the second quarter. Eagle Asset Management Inc. now owns 87,704 shares of the company’s stock valued at $5,562,000 after purchasing an additional 1,204 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Calavo Growers in the second quarter worth approximately $360,000. Mercer Global Advisors Inc. ADV lifted its stake in Calavo Growers by 21.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,919 shares of the company’s stock worth $375,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Connors Investor Services Inc. purchased a new position in Calavo Growers in the second quarter worth approximately $2,946,000. Hedge funds and other institutional investors own 75.13% of the company’s stock.

In related news, CEO Steve Hollister acquired 5,000 shares of Calavo Growers stock in a transaction dated Tuesday, September 14th. The stock was acquired at an average price of $36.12 per share, for a total transaction of $180,600.00. Following the transaction, the chief executive officer now owns 28,350 shares of the company’s stock, valued at $1,024,002. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by insiders.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Calavo Growers from a “hold” rating to a “strong sell” rating in a research note on Friday, June 25th. Lake Street Capital decreased their price target on shares of Calavo Growers from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Calavo Growers currently has an average rating of “Hold” and a consensus price target of $76.00.

Shares of NASDAQ:CVGW opened at $38.30 on Thursday. The company has a market capitalization of $677.26 million, a PE ratio of 93.42 and a beta of 0.84. The company has a current ratio of 1.57, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16. Calavo Growers, Inc. has a twelve month low of $33.25 and a twelve month high of $85.40. The firm has a 50 day simple moving average of $43.77 and a 200-day simple moving average of $60.56.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Tuesday, September 7th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $285.00 million during the quarter, compared to the consensus estimate of $278.97 million. Calavo Growers had a net margin of 0.72% and a return on equity of 5.19%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, equities research analysts predict that Calavo Growers, Inc. will post 0.29 EPS for the current fiscal year.

Calavo Growers Company Profile

Calavo Growers, Inc engages in marketing and distribution of avocados, prepared avocados, and other perishable foods. It operates through the following segments: Fresh Products, Calavo Foods, and Renaissance Food Group. The Fresh Products segment includes operations that involve the distribution of avocados and other fresh produce products.

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Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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