JPMorgan Chase & Co. Sells 82,988 Shares of Calavo Growers, Inc. (CVGW)
JPMorgan Chase & Co. trimmed its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 65.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,490 shares of the company’s stock after selling 82,988 shares during the quarter. JPMorgan Chase & Co. owned 0.25% of Calavo Growers worth $3,072,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CVGW. US Bancorp DE boosted its holdings in Calavo Growers by 16.7% in the first quarter. US Bancorp DE now owns 5,785 shares of the company’s stock valued at $351,000 after purchasing an additional 828 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Calavo Growers by 24.8% in the first quarter. Bank of New York Mellon Corp now owns 393,886 shares of the company’s stock valued at $23,870,000 after purchasing an additional 78,219 shares during the last quarter. Comerica Bank boosted its holdings in Calavo Growers by 4.1% in the first quarter. Comerica Bank now owns 16,999 shares of the company’s stock valued at $1,132,000 after purchasing an additional 662 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Calavo Growers by 10.7% in the first quarter. Ameriprise Financial Inc. now owns 87,678 shares of the company’s stock valued at $5,314,000 after purchasing an additional 8,448 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Calavo Growers by 11.1% in the first quarter. Parametric Portfolio Associates LLC now owns 13,554 shares of the company’s stock valued at $821,000 after purchasing an additional 1,357 shares during the last quarter. 86.93% of the stock is currently owned by institutional investors.
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Calavo Growers, Inc. (NASDAQ:CVGW) opened at 72.30 on Wednesday. The firm has a market cap of $1.27 billion, a P/E ratio of 34.93 and a beta of 0.70. Calavo Growers, Inc. has a 12 month low of $48.75 and a 12 month high of $76.85. The firm has a 50 day moving average of $70.66 and a 200-day moving average of $68.96.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Wednesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. The company had revenue of $301.65 million for the quarter, compared to the consensus estimate of $278.66 million. During the same period last year, the firm posted $0.73 EPS. Calavo Growers’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts forecast that Calavo Growers, Inc. will post $2.06 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $0.95 dividend. This is an increase from Calavo Growers’s previous annual dividend of $0.90. The ex-dividend date is Thursday, November 16th. This represents a dividend yield of 1.29%. Calavo Growers’s payout ratio is presently 43.48%.
CVGW has been the topic of several recent research reports. BidaskClub raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Tuesday, August 22nd. Finally, Buckingham Research lowered their price target on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $79.40.
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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