Gabelli Funds LLC Grows Holdings in Calavo Growers, Inc. $CVGW

Gabelli Funds LLC raised its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 454.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,360 shares of the company’s stock after purchasing an additional 89,646 shares during the quarter. Gabelli Funds LLC’s holdings in Calavo Growers were worth $2,815,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CVGW. SG Capital Management LLC purchased a new position in shares of Calavo Growers during the third quarter worth approximately $13,443,000. Old West Investment Management LLC bought a new stake in shares of Calavo Growers during the second quarter valued at approximately $11,364,000. Balyasny Asset Management L.P. boosted its holdings in shares of Calavo Growers by 1,873.8% in the second quarter. Balyasny Asset Management L.P. now owns 226,793 shares of the company’s stock valued at $6,030,000 after purchasing an additional 215,303 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Calavo Growers by 588.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 236,579 shares of the company’s stock worth $6,291,000 after purchasing an additional 202,221 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Calavo Growers by 91.6% in the first quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company’s stock worth $6,608,000 after purchasing an additional 131,674 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Price Performance

NASDAQ CVGW opened at $25.34 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.47. The firm’s 50 day moving average price is $24.96 and its 200-day moving average price is $24.07. Calavo Growers, Inc. has a 52-week low of $18.40 and a 52-week high of $28.72. The company has a market cap of $452.83 million, a PE ratio of 23.04 and a beta of 0.38.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Wednesday, January 14th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 3.05% and a return on equity of 13.43%. Sell-side analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. Calavo Growers’s dividend payout ratio (DPR) is currently 72.73%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVGW shares. Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Stephens dropped their price target on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Finally, Weiss Ratings upgraded Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Calavo Growers currently has an average rating of “Hold” and an average target price of $33.50.

Calavo Growers 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.