Calavo Growers, Inc. (CVGW) To Go Ex-Dividend on April 1st

Calavo Growers, Inc. (NASDAQ:CVGW) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.20 per share on Tuesday, April 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, April 1st.

Calavo Growers has decreased its dividend payment by an average of 19.5% annually over the last three years. Calavo Growers has a payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW opened at $23.15 on Friday. The company has a market cap of $412.07 million, a P/E ratio of -385.83 and a beta of 0.57. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. Calavo Growers has a 52 week low of $20.30 and a 52 week high of $30.58. The business has a fifty day simple moving average of $23.35 and a 200-day simple moving average of $25.71.

Calavo Growers (NASDAQ:CVGW) last announced 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). The business had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. Calavo Growers’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. Equities research analysts forecast that Calavo Growers will post 1.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Lake Street Capital lowered their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. StockNews.com raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Thursday.

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.