Rice Hall James & Associates LLC Raises Stake in Calavo Growers, Inc. (NASDAQ:CVGW)
Rice Hall James & Associates LLC increased its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 30.3% during the second quarter, Holdings Channel reports. The fund owned 292,301 shares of the company’s stock after buying an additional 67,984 shares during the period. Rice Hall James & Associates LLC’s holdings in Calavo Growers were worth $20,183,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in Calavo Growers by 14.3% in the first quarter. Wells Fargo & Company MN now owns 99,499 shares of the company’s stock worth $6,029,000 after buying an additional 12,437 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Calavo Growers by 1.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 52,482 shares of the company’s stock worth $3,180,000 after buying an additional 650 shares during the last quarter. Eidelman Virant Capital bought a new stake in Calavo Growers during the first quarter worth approximately $3,726,000. Russell Investments Group Ltd. boosted its stake in Calavo Growers by 126.3% in the first quarter. Russell Investments Group Ltd. now owns 70,282 shares of the company’s stock worth $4,259,000 after buying an additional 39,221 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Calavo Growers by 2.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 570,000 shares of the company’s stock worth $34,542,000 after buying an additional 12,420 shares during the last quarter. Institutional investors and hedge funds own 83.26% of the company’s stock.
Calavo Growers, Inc. (CVGW) opened at 72.05 on Friday. The firm has a 50 day moving average of $71.03 and a 200-day moving average of $64.61. Calavo Growers, Inc. has a 1-year low of $48.75 and a 1-year high of $76.85. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 31.34 and a beta of 0.62.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The firm had revenue of $270.20 million for the quarter, compared to the consensus estimate of $259.79 million. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities research analysts anticipate that Calavo Growers, Inc. will post $2.39 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $85.00 price target (up from $75.00) on shares of Calavo Growers in a report on Friday, June 9th. BidaskClub upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “strong-buy” rating and set a $79.00 price objective on the stock in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.75.
In other news, Director Marc Laurence Brown sold 750 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total value of $56,325.00. Following the sale, the director now directly owns 10,100 shares of the company’s stock, valued at approximately $758,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen M. Holmgren bought 1,000 shares of Calavo Growers stock in a transaction dated Thursday, July 6th. The stock was acquired at an average cost of $68.00 per share, for a total transaction of $68,000.00. Following the completion of the transaction, the director now directly owns 2,750 shares in the company, valued at $187,000. The disclosure for this purchase can be found here. 9.90% of the stock is owned by corporate insiders.
Calavo Growers Company Profile
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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