Calavo Growers (NASDAQ:CVGW) Releases Quarterly Earnings Results

Calavo Growers (NASDAQ:CVGW) released its earnings results on Wednesday. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12), Zacks reports. Calavo Growers had a net margin of 2.28% and a return on equity of 11.73%.

Calavo Growers Trading Up 1.7%

CVGW traded up $0.38 on Wednesday, reaching $22.58. 305,542 shares of the company’s stock were exchanged, compared to its average volume of 249,559. The company has a market cap of $403.05 million, a price-to-earnings ratio of 25.66 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.86 and a current ratio of 2.30. Calavo Growers has a twelve month low of $18.40 and a twelve month high of $28.72. The company’s 50 day moving average is $21.11 and its 200-day moving average is $24.42.

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. Calavo Growers’s payout ratio is presently 90.91%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Calavo Growers in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Calavo Growers presently has a consensus rating of “Hold” and an average price target of $40.00.

Hedge Funds Weigh In On Calavo Growers

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in Calavo Growers in the 1st quarter valued at $2,520,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Calavo Growers by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock valued at $240,000 after buying an additional 390 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Calavo Growers by 91.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company’s stock valued at $6,608,000 after buying an additional 131,674 shares during the period. Jane Street Group LLC boosted its holdings in Calavo Growers by 49.7% in the 1st quarter. Jane Street Group LLC now owns 50,858 shares of the company’s stock worth $1,220,000 after acquiring an additional 16,891 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Calavo Growers by 588.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 236,579 shares of the company’s stock valued at $6,291,000 after purchasing an additional 202,221 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

About Calavo Growers

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.