Bank of Montreal Can Acquires New Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

Bank of Montreal Can acquired a new stake in Calavo Growers, Inc. (NASDAQ:CVGW) during the second quarter, according to its most recent filing with the SEC. The firm acquired 17,086 shares of the company’s stock, valued at approximately $547,000. Bank of Montreal Can owned about 0.10% of Calavo Growers at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVGW. Point72 Hong Kong Ltd acquired a new stake in Calavo Growers in the first quarter valued at $37,000. FMR LLC lifted its holdings in Calavo Growers by 102.2% in the second quarter. FMR LLC now owns 910 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares during the period. Lazard Asset Management LLC acquired a new stake in Calavo Growers in the fourth quarter valued at $62,000. Captrust Financial Advisors lifted its holdings in 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 acquiring an additional 303 shares during the period. Finally, UBS Group AG lifted its holdings in Calavo Growers by 47.9% in the third quarter. UBS Group AG now owns 3,081 shares of the company’s stock valued at $98,000 after acquiring an additional 998 shares during the period. 81.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVGW has been the subject of a number of recent analyst reports. Lake Street Capital raised their target price on Calavo Growers from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, September 7th. StockNews.com downgraded Calavo Growers from a “hold” rating to a “sell” rating in a research note on Friday, October 13th.

Calavo Growers Trading Down 3.5 %

NASDAQ:CVGW opened at $24.78 on Friday. The company has a market capitalization of $440.09 million, a PE ratio of -112.64 and a beta of 0.80. The company has a quick ratio of 1.10, a current ratio of 1.48 and a debt-to-equity ratio of 0.21. Calavo Growers, Inc. has a 52-week low of $22.64 and a 52-week high of $38.97. The stock has a fifty day simple moving average of $25.78 and a 200-day simple moving average of $30.51.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Wednesday, September 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.10. The business had revenue of $259.90 million during the quarter, compared to the consensus estimate of $280.77 million. Calavo Growers had a positive return on equity of 2.85% and a negative net margin of 0.39%. The business’s revenue was down 24.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS. On average, equities research analysts expect that Calavo Growers, Inc. will post 0.64 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 11th. Investors of record on Wednesday, September 27th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, September 26th. Calavo Growers’s dividend payout ratio is presently -181.82%.

Calavo Growers Company Profile

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.