Calavo Growers (NASDAQ:CVGW) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Calavo Growers, Inc. (NASDAQ:CVGW) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.30 and traded as high as $25.25. Calavo Growers shares last traded at $25.04, with a volume of 490,038 shares trading hands.

Analysts Set New Price Targets

CVGW has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Calavo Growers in a research report on Monday, December 29th. Stephens dropped their target price on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.50.

Calavo Growers Stock Performance

The stock has a market cap of $454.61 million, a price-to-earnings ratio of 23.13 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.47 and a quick ratio of 1.92. The stock’s 50-day moving average is $22.28 and its 200-day moving average is $24.29.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, January 14th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). The business had revenue of $124.68 million for the quarter, compared to analysts’ expectations of $147.95 million. Calavo Growers had a return on equity of 13.43% and a net margin of 3.05%. Analysts anticipate that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s dividend payout ratio is presently 72.73%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in Calavo Growers during the third quarter valued at about $28,000. Spire Wealth Management purchased a new stake in shares of Calavo Growers during the 2nd quarter worth about $30,000. Tower Research Capital LLC TRC increased its position in Calavo Growers by 673.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock worth $74,000 after purchasing an additional 2,416 shares in the last quarter. Van ECK Associates Corp raised its holdings in Calavo Growers by 23.1% in the third quarter. Van ECK Associates Corp now owns 3,648 shares of the company’s stock valued at $94,000 after buying an additional 685 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Calavo Growers by 23.7% during the third quarter. BNP Paribas Financial Markets now owns 7,299 shares of the company’s stock valued at $188,000 after buying an additional 1,397 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.