Calavo Growers (NASDAQ:CVGW) Shares Up 5%

Calavo Growers, Inc. (NASDAQ:CVGW)’s stock price shot up 5% on Friday . The stock traded as high as $28.14 and last traded at $28.11. 126,233 shares changed hands during trading, a decline of 29% from the average session volume of 177,038 shares. The stock had previously closed at $26.78.

Wall Street Analyst Weigh In

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

Calavo Growers Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.70 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $27.74 and its two-hundred day moving average price is $26.86. The company has a market cap of $505.70 million, a P/E ratio of -43.05 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.01) earnings per share 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 business had revenue of $127.60 million for the quarter, compared to the consensus estimate of $254.25 million. During the same quarter last year, the business posted ($0.08) EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities analysts forecast that Calavo Growers, Inc. will post 1.04 earnings per share for the current year.

Calavo Growers Dividend Announcement

The company also recently announced 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. This represents a $0.40 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, March 28th. Calavo Growers’s payout ratio is -60.61%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Calavo Growers by 0.6% in the first quarter. BlackRock Inc. now owns 2,753,941 shares of the company’s stock worth $100,382,000 after buying an additional 15,751 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Calavo Growers by 12.5% in the first quarter. Vanguard Group Inc. now owns 1,445,222 shares of the company’s stock worth $52,678,000 after buying an additional 160,709 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Calavo Growers by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company’s stock worth $20,259,000 after purchasing an additional 60,803 shares in the last quarter. State Street Corp lifted its position in shares of Calavo Growers by 1.8% in the second quarter. State Street Corp now owns 640,518 shares of the company’s stock worth $26,722,000 after purchasing an additional 11,488 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Calavo Growers by 0.7% in the first quarter. Clearbridge Investments LLC now owns 620,592 shares of the company’s stock worth $22,621,000 after purchasing an additional 4,207 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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