Calavo Growers (NASDAQ:CVGW) Stock Price Crosses Above 200-Day Moving Average of $26.92

Calavo Growers, Inc. (NASDAQ:CVGW) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.92 and traded as high as $27.67. Calavo Growers shares last traded at $27.03, with a volume of 176,028 shares trading hands.

Analyst Upgrades and Downgrades

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

Calavo Growers Trading Down 1.4 %

The firm’s 50 day moving average price is $27.63 and its 200-day moving average price is $26.92. The stock has a market cap of $481.13 million, a P/E ratio of -40.95 and a beta of 0.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.03 and a quick ratio of 1.70.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data 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). The company had revenue of $127.60 million for the quarter, compared to the consensus estimate of $254.25 million. Calavo Growers had a negative net margin of 1.32% and a positive return on equity of 0.49%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. As a group, equities research analysts forecast that Calavo Growers, Inc. will post 1.04 earnings per share for the current year.

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. Calavo Growers’s dividend payout ratio (DPR) is -60.61%.

Institutional Trading of Calavo Growers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVGW. SG Capital Management LLC purchased a new stake in Calavo Growers during the fourth quarter valued at approximately $7,851,000. Kent Lake Capital LLC increased its holdings in Calavo Growers by 200.0% during the fourth quarter. Kent Lake Capital LLC now owns 300,000 shares of the company’s stock valued at $8,823,000 after buying an additional 200,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Calavo Growers by 134.8% during the fourth quarter. Russell Investments Group Ltd. now owns 280,584 shares of the company’s stock valued at $8,252,000 after buying an additional 161,100 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Calavo Growers by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company’s stock valued at $20,259,000 after buying an additional 60,803 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in Calavo Growers by 12.7% during the third quarter. Kennedy Capital Management LLC now owns 531,689 shares of the company’s stock valued at $13,415,000 after buying an additional 59,797 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.