Raymond James & Associates Sells 13,734 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Raymond James & Associates lowered its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 10.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 119,451 shares of the company’s stock after selling 13,734 shares during the quarter. Raymond James & Associates’ holdings in Calavo Growers were worth $3,513,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CVGW. Advisor Group Holdings Inc. increased its holdings in Calavo Growers by 5.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,365 shares of the company’s stock worth $270,000 after acquiring an additional 384 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Calavo Growers by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 171,057 shares of the company’s stock worth $6,233,000 after acquiring an additional 2,839 shares in the last quarter. Citigroup Inc. boosted its stake in Calavo Growers by 13.1% in the 1st quarter. Citigroup Inc. now owns 15,151 shares of the company’s stock worth $552,000 after purchasing an additional 1,759 shares during the period. PNC Financial Services Group Inc. boosted its stake in Calavo Growers by 168.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,492 shares of the company’s stock worth $127,000 after purchasing an additional 2,190 shares during the period. Finally, Bank of Montreal Can boosted its stake in Calavo Growers by 5.5% in the 1st quarter. Bank of Montreal Can now owns 9,420 shares of the company’s stock worth $357,000 after purchasing an additional 487 shares during the period. Institutional investors own 81.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens reiterated an “equal weight” rating and set a $32.00 target price on shares of Calavo Growers in a research report on Wednesday, January 17th.

Calavo Growers Stock Down 1.2 %

Shares of CVGW opened at $24.44 on Friday. The company has a market cap of $435.03 million, a PE ratio of -37.03 and a beta of 0.65. The business has a fifty day moving average of $27.77 and a 200 day moving average of $26.81. Calavo Growers, Inc. has a 52-week low of $21.42 and a 52-week high of $38.97. The company has a quick ratio of 1.70, a current ratio of 2.03 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Monday, March 11th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.18). Calavo Growers had a positive return on equity of 0.49% and a negative net margin of 1.32%. The business had revenue of $127.60 million during the quarter, compared to analysts’ expectations of $254.25 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts expect that Calavo Growers, Inc. will post 1.04 EPS for the current year.

Calavo Growers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.64%. Calavo Growers’s dividend payout ratio is currently -60.61%.

Calavo Growers 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 Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.