Calavo Growers, Inc. (CVGW) Shares Sold by CIBC World Markets Inc.
CIBC World Markets Inc. lowered its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 36.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,575 shares of the company’s stock after selling 1,500 shares during the period. CIBC World Markets Inc.’s holdings in Calavo Growers were worth $217,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CVGW. Alliancebernstein L.P. increased its holdings in Calavo Growers by 5.5% in the second quarter. Alliancebernstein L.P. now owns 21,200 shares of the company’s stock worth $1,464,000 after buying an additional 1,100 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Calavo Growers by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 96,677 shares of the company’s stock worth $6,675,000 after buying an additional 8,999 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Calavo Growers by 62.6% in the second quarter. PNC Financial Services Group Inc. now owns 3,527 shares of the company’s stock worth $244,000 after buying an additional 1,358 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Calavo Growers by 5.5% in the second quarter. New York State Common Retirement Fund now owns 17,300 shares of the company’s stock worth $1,195,000 after buying an additional 899 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in Calavo Growers in the second quarter worth approximately $501,000. Hedge funds and other institutional investors own 92.54% of the company’s stock.
In other Calavo Growers news, Director Marc Laurence Brown sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $85.05, for a total transaction of $85,050.00. Following the transaction, the director now owns 9,600 shares in the company, valued at $816,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James E. Gibson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the transaction, the insider now owns 61,991 shares in the company, valued at approximately $4,905,967.74. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Tuesday, December 19th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.50 by $0.09. Calavo Growers had a return on equity of 16.01% and a net margin of 3.47%. The company had revenue of $277.20 million for the quarter, compared to the consensus estimate of $297.40 million. During the same quarter last year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. equities research analysts expect that Calavo Growers, Inc. will post 2.86 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Calavo Growers from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Stephens increased their price objective on Calavo Growers from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. Lake Street Capital restated a “buy” rating and issued a $91.00 price objective (up previously from $76.00) on shares of Calavo Growers in a report on Wednesday, December 20th. Finally, BidaskClub upgraded Calavo Growers from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $88.00.
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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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