John M. Hunt Sells 14,250 Shares of Calavo Growers Inc. (CVGW) Stock
Calavo Growers Inc. (NASDAQ:CVGW) Director John M. Hunt sold 14,250 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $68.72, for a total value of $979,260.00. Following the completion of the sale, the director now owns 38,000 shares of the company’s stock, valued at approximately $2,611,360. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Calavo Growers Inc. (NASDAQ:CVGW) opened at 69.17 on Tuesday. The stock’s 50 day moving average price is $63.48 and its 200 day moving average price is $60.72. Calavo Growers Inc. has a 1-year low of $43.08 and a 1-year high of $71.48. The stock has a market capitalization of $1.21 billion, a PE ratio of 35.82 and a beta of 0.51.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.14. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. The company earned $263.15 million during the quarter, compared to analyst estimates of $243.80 million. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. On average, equities research analysts predict that Calavo Growers Inc. will post $2.11 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC purchased a new position in shares of Calavo Growers during the second quarter worth approximately $194,000. Schwab Charles Investment Management Inc. raised its position in shares of Calavo Growers by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,872 shares of the company’s stock worth $3,677,000 after buying an additional 936 shares during the last quarter. Arizona State Retirement System raised its position in shares of Calavo Growers by 1.3% in the second quarter. Arizona State Retirement System now owns 7,663 shares of the company’s stock worth $513,000 after buying an additional 100 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Calavo Growers by 1,032.0% in the second quarter. Cubist Systematic Strategies LLC now owns 2,264 shares of the company’s stock worth $152,000 after buying an additional 2,064 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Calavo Growers during the second quarter worth approximately $576,000. 63.40% of the stock is owned by institutional investors.
CVGW has been the topic of a number of analyst reports. Zacks Investment Research cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Calavo Growers in a research note on Sunday, June 5th. Stephens cut Calavo Growers from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 9th. Wunderlich initiated coverage on Calavo Growers in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Lake Street Capital lifted their price target on Calavo Growers from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.69.
Calavo Growers Company Profile
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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