Calavo Growers (CVGW) to Release Earnings on Wednesday

Calavo Growers (NASDAQ:CVGW) is set to announce its earnings results after the market closes on Wednesday, September 6th. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Tuesday, June 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.19). The business had revenue of $244.69 million for the quarter, compared to the consensus estimate of $265.13 million. Calavo Growers had a positive return on equity of 0.83% and a negative net margin of 0.86%. The company’s revenue was down 26.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, analysts expect Calavo Growers to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Calavo Growers Trading Up 0.7 %

Shares of NASDAQ CVGW opened at $32.91 on Wednesday. The firm’s 50 day moving average price is $33.98 and its 200-day moving average price is $31.46. The company has a market cap of $585.27 million, a PE ratio of -63.29 and a beta of 0.72. Calavo Growers has a 52-week low of $22.64 and a 52-week high of $42.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.25.

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Tuesday, June 27th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, June 26th. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. Calavo Growers’s payout ratio is -76.92%.

Insider Buying and Selling

In other news, Director Steve Hollister purchased 2,000 shares of the stock in a transaction dated Friday, July 14th. The shares were acquired at an average cost of $30.59 per share, for a total transaction of $61,180.00. Following the acquisition, the director now owns 36,702 shares of the company’s stock, valued at $1,122,714.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Lecil E. Cole purchased 37,500 shares of the stock in a transaction dated Wednesday, July 12th. The shares were purchased at an average price of $29.94 per share, with a total value of $1,122,750.00. Following the transaction, the chief executive officer now owns 477,500 shares in the company, valued at approximately $14,296,350. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steve Hollister purchased 2,000 shares of the stock in a transaction dated Friday, July 14th. The shares were purchased at an average cost of $30.59 per share, for a total transaction of $61,180.00. Following the transaction, the director now owns 36,702 shares in the company, valued at approximately $1,122,714.18. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calavo Growers

Several hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in shares of Calavo Growers by 17.0% in the second quarter. Captrust Financial Advisors now owns 2,089 shares of the company’s stock valued at $87,000 after buying an additional 303 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Calavo Growers by 6.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 5,488 shares of the company’s stock worth $159,000 after acquiring an additional 311 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Calavo Growers by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,145 shares of the company’s stock valued at $321,000 after purchasing an additional 328 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of Calavo Growers by 5.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 7,365 shares of the company’s stock valued at $270,000 after acquiring an additional 384 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Calavo Growers by 102.2% in the second quarter. FMR LLC now owns 910 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares in the last quarter. 80.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Calavo Growers in a research note on Thursday, August 17th. They issued a “sell” rating for the company.

About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through two segments, Grown and Prepared. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.