Calavo Growers (NASDAQ:CVGW) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Calavo Growers, Inc. (NASDAQ:CVGW)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.69 and traded as high as $28.82. Calavo Growers shares last traded at $28.44, with a volume of 112,082 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.

Calavo Growers Trading Down 0.4 %

The stock has a market cap of $496.62 million, a PE ratio of -55.80 and a beta of 0.58. The company’s fifty day moving average is $27.86 and its 200-day moving average is $25.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.04 and a quick ratio of 1.77.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Monday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.21. Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. The business had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $175.00 million. On average, analysts predict that Calavo Growers, Inc. will post 1.31 earnings per share for the current fiscal year.

Calavo Growers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This is a boost from Calavo Growers’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. Calavo Growers’s dividend payout ratio (DPR) is -160.00%.

Hedge Funds Weigh In On Calavo Growers

Large investors have recently bought and sold shares of the business. Nuance Investments LLC increased its position in shares of Calavo Growers by 25.1% in the third quarter. Nuance Investments LLC now owns 1,636,969 shares of the company’s stock valued at $46,703,000 after buying an additional 328,820 shares in the last quarter. American Century Companies Inc. increased its holdings in Calavo Growers by 246.7% in the 2nd quarter. American Century Companies Inc. now owns 261,316 shares of the company’s stock worth $5,932,000 after acquiring an additional 185,946 shares in the last quarter. SG Capital Management LLC raised its position in Calavo Growers by 51.4% during the first quarter. SG Capital Management LLC now owns 404,278 shares of the company’s stock worth $11,243,000 after acquiring an additional 137,325 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in Calavo Growers by 40.7% during the second quarter. Deprince Race & Zollo Inc. now owns 356,319 shares of the company’s stock valued at $8,088,000 after purchasing an additional 103,024 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C grew its position in shares of Calavo Growers by 566.9% in the second quarter. Deerfield Management Company L.P. Series C now owns 70,514 shares of the company’s stock valued at $1,601,000 after purchasing an additional 59,940 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Company Profile

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.