Short Interest in Calavo Growers, Inc. (NASDAQ:CVGW) Rises By 16.0%

Calavo Growers, Inc. (NASDAQ:CVGW) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 1,245,527 shares, a growth of 16.0% from the February 12th total of 1,073,608 shares. Based on an average daily volume of 168,031 shares, the days-to-cover ratio is currently 7.4 days. Approximately 7.5% of the company’s stock are sold short. Approximately 7.5% of the company’s stock are sold short. Based on an average daily volume of 168,031 shares, the days-to-cover ratio is currently 7.4 days.

Wall Street Analysts Forecast Growth

CVGW has been the topic of several recent analyst reports. Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings upgraded Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Finally, Stephens decreased their target price on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Stock Performance

Shares of Calavo Growers stock traded up $0.22 on Tuesday, hitting $24.31. The stock had a trading volume of 83,663 shares, compared to its average volume of 422,146. The stock has a market cap of $434.47 million, a price-to-earnings ratio of 27.30 and a beta of 0.38. The company has a current ratio of 2.21, a quick ratio of 1.66 and a debt-to-equity ratio of 0.02. Calavo Growers has a 52-week low of $18.40 and a 52-week high of $28.72. The company’s 50 day moving average price is $25.18 and its 200 day moving average price is $23.99.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Calavo Growers had a return on equity of 12.81% and a net margin of 2.61%.The company had revenue of $122.20 million for the quarter, compared to analyst estimates of $138.45 million. On average, research analysts anticipate that Calavo Growers will post 1.87 EPS for the current year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 13th. Calavo Growers’s payout ratio is presently 89.89%.

Institutional Trading of Calavo Growers

A number of large investors have recently bought and sold shares of CVGW. AQR Capital Management LLC acquired a new position in Calavo Growers in the first quarter valued at $2,520,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Calavo Growers by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock valued at $240,000 after acquiring an additional 390 shares during the period. Goldman Sachs Group Inc. raised its stake in 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 acquiring an additional 131,674 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Calavo Growers by 49.7% in the 1st quarter. Jane Street Group LLC now owns 50,858 shares of the company’s stock valued at $1,220,000 after purchasing an additional 16,891 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Calavo Growers in the second quarter valued at approximately $997,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Company Profile

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.