Calavo Growers (NASDAQ:CVGW) Announces Quarterly Earnings Results

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

Calavo Growers Trading Up 1.7%

Calavo Growers stock traded up $0.38 during midday trading on Wednesday, reaching $22.58. 305,542 shares of the stock traded hands, compared to its average volume of 249,559. The firm has a market cap of $403.05 million, a PE ratio of 25.66 and a beta of 0.37. Calavo Growers has a 12-month low of $18.40 and a 12-month high of $28.72. The company has a current ratio of 2.30, a quick ratio of 1.86 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $21.11 and a two-hundred day simple moving average of $24.42.

Calavo Growers Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Calavo Growers

Several institutional investors have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in shares of Calavo Growers in the 3rd quarter valued at $262,000. Creative Planning acquired a new stake in shares of Calavo Growers during the third quarter worth about $412,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Calavo Growers by 137.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,099 shares of the company’s stock valued at $234,000 after purchasing an additional 5,268 shares during the period. Caption Management LLC purchased a new position in Calavo Growers during the 3rd quarter worth approximately $373,000. Finally, State of Wyoming acquired a new position in Calavo Growers during the second quarter worth approximately $289,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.