Lake Street Capital reissued their buy rating on shares of Calavo Growers (NASDAQ:CVGW) in a research note issued to investors on Wednesday. Lake Street Capital currently has a $91.00 target price on the stock, up from their previous target price of $76.00.

CVGW has been the topic of several other research reports. Zacks Investment Research raised shares of Calavo Growers from a hold rating to a buy rating and set a $79.00 target price on the stock in a research note on Tuesday, August 22nd. BidaskClub cut shares of Calavo Growers from a buy rating to a hold rating in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $85.40.

Calavo Growers (NASDAQ:CVGW) traded up $1.85 during trading on Wednesday, reaching $79.25. 382,600 shares of the company’s stock traded hands, compared to its average volume of 163,455. The firm has a market cap of $1,357.07, a PE ratio of 35.67 and a beta of 0.65. Calavo Growers has a 52-week low of $48.75 and a 52-week high of $83.00.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, December 19th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.09. The firm had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $297.40 million. Calavo Growers had a net margin of 3.47% and a return on equity of 16.17%. Calavo Growers’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS. sell-side analysts predict that Calavo Growers will post 2.86 EPS for the current year.

The firm also recently disclosed an annual dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a dividend yield of 1.29%. This is a boost from Calavo Growers’s previous annual dividend of $0.90. Calavo Growers’s payout ratio is currently 44.60%.

In other news, insider James E. Snyder sold 750 shares of Calavo Growers stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total value of $52,642.50. Following the transaction, the insider now owns 11,095 shares of the company’s stock, valued at approximately $778,758.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Calavo Growers by 4.3% in the second quarter. Vanguard Group Inc. now owns 877,726 shares of the company’s stock worth $60,607,000 after acquiring an additional 36,077 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Calavo Growers by 4.6% in the second quarter. Stephens Investment Management Group LLC now owns 782,453 shares of the company’s stock worth $54,028,000 after acquiring an additional 34,752 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Calavo Growers by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 645,154 shares of the company’s stock worth $47,225,000 after acquiring an additional 12,002 shares in the last quarter. State Street Corp increased its position in shares of Calavo Growers by 5.1% in the second quarter. State Street Corp now owns 383,219 shares of the company’s stock worth $26,462,000 after acquiring an additional 18,591 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Calavo Growers by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 383,180 shares of the company’s stock worth $28,048,000 after acquiring an additional 2,511 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors.

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About Calavo Growers

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

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