Calavo Growers (NASDAQ:CVGW) Cut to “Sell” at StockNews.com

Calavo Growers (NASDAQ:CVGW) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Calavo Growers Price Performance

NASDAQ:CVGW traded down $0.35 during trading hours on Friday, hitting $23.60. The company’s stock had a trading volume of 198,143 shares, compared to its average volume of 190,336. The business’s 50-day moving average is $24.31 and its two-hundred day moving average is $26.48. The company has a market capitalization of $420.08 million, a PE ratio of -262.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.97. Calavo Growers has a 52-week low of $20.90 and a 52-week high of $38.97.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings data on Monday, June 10th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.19. Calavo Growers had a positive return on equity of 4.84% and a negative net margin of 0.18%. The firm had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $157.00 million. As a group, research analysts anticipate that Calavo Growers will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVGW. International Assets Investment Management LLC purchased a new position in shares of Calavo Growers in the fourth quarter valued at $5,190,000. Louisiana State Employees Retirement System purchased a new position in shares of Calavo Growers in the fourth quarter valued at $262,000. Russell Investments Group Ltd. boosted its stake in shares of Calavo Growers by 134.8% during the fourth quarter. Russell Investments Group Ltd. now owns 280,584 shares of the company’s stock valued at $8,252,000 after acquiring an additional 161,100 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Calavo Growers by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,098 shares of the company’s stock valued at $10,238,000 after acquiring an additional 26,434 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Calavo Growers by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company’s stock valued at $20,259,000 after acquiring an additional 60,803 shares during the last quarter. Hedge funds and other institutional investors 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.