International Assets Investment Management LLC Invests $5.19 Million in Calavo Growers, Inc. (NASDAQ:CVGW)

International Assets Investment Management LLC acquired a new position in Calavo Growers, Inc. (NASDAQ:CVGW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,646 shares of the company’s stock, valued at approximately $5,190,000.

A number of other institutional investors have also made changes to their positions in CVGW. Advisor Group Holdings Inc. lifted its position in shares of Calavo Growers by 5.5% in the first quarter. Advisor Group Holdings Inc. now owns 7,365 shares of the company’s stock worth $270,000 after purchasing an additional 384 shares in the last quarter. Raymond James & Associates increased its holdings in Calavo Growers by 8.0% during the first quarter. Raymond James & Associates now owns 104,193 shares of the company’s stock worth $3,798,000 after buying an additional 7,684 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Calavo Growers by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 171,057 shares of the company’s stock worth $6,233,000 after buying an additional 2,839 shares during the last quarter. Citigroup Inc. increased its holdings in Calavo Growers by 13.1% during the first quarter. Citigroup Inc. now owns 15,151 shares of the company’s stock worth $552,000 after buying an additional 1,759 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Calavo Growers by 168.2% during the first quarter. PNC Financial Services Group Inc. now owns 3,492 shares of the company’s stock worth $127,000 after buying an additional 2,190 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Analyst Ratings Changes

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

Calavo Growers Price Performance

Shares of CVGW opened at $24.64 on Tuesday. The company has a market cap of $438.59 million, a price-to-earnings ratio of -37.33 and a beta of 0.65. Calavo Growers, Inc. has a 1-year low of $21.42 and a 1-year high of $38.97. The company’s fifty day simple moving average is $27.76 and its 200 day simple moving average is $26.82. The company has a current ratio of 2.03, a quick ratio of 1.70 and a debt-to-equity ratio of 0.24.

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

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. Calavo Growers’s dividend payout ratio is currently -60.61%.

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