Alliancebernstein L.P. Lowers Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Alliancebernstein L.P. reduced its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,970 shares of the company’s stock after selling 600 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Calavo Growers worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVGW. Nuance Investments LLC increased its stake in Calavo Growers by 1.6% during the fourth quarter. Nuance Investments LLC now owns 1,663,515 shares of the company’s stock worth $42,420,000 after acquiring an additional 26,546 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Calavo Growers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 1,148,505 shares of the company’s stock worth $29,287,000 after purchasing an additional 22,777 shares during the period. American Century Companies Inc. increased its position in Calavo Growers by 26.8% during the 4th quarter. American Century Companies Inc. now owns 445,817 shares of the company’s stock worth $11,368,000 after purchasing an additional 94,221 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Calavo Growers by 26.4% in the fourth quarter. Bank of New York Mellon Corp now owns 152,141 shares of the company’s stock valued at $3,880,000 after buying an additional 31,743 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Calavo Growers by 104.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,960 shares of the company’s stock valued at $3,849,000 after buying an additional 77,220 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Price Performance

CVGW stock opened at $26.17 on Monday. The firm has a market cap of $466.79 million, a P/E ratio of -436.17 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. Calavo Growers, Inc. has a 1 year low of $20.30 and a 1 year high of $30.58. The stock has a 50-day simple moving average of $23.59 and a 200-day simple moving average of $25.17.

Calavo Growers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, April 1st. Calavo Growers’s dividend payout ratio (DPR) is 148.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday. Lake Street Capital decreased their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Insider Activity

In other Calavo Growers news, EVP Michael A. Browne acquired 6,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was purchased at an average price of $23.69 per share, for a total transaction of $142,140.00. Following the purchase, the executive vice president now directly owns 7,500 shares in the company, valued at $177,675. This trade represents a 400.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lecil E. Cole bought 38,155 shares of the business’s stock in a transaction on Monday, April 14th. The stock was acquired at an average cost of $24.60 per share, for a total transaction of $938,613.00. Following the completion of the transaction, the chief executive officer now owns 574,225 shares in the company, valued at $14,125,935. This represents a 7.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 73,438 shares of company stock worth $1,771,303 over the last 90 days. Company insiders own 7.20% of the company’s stock.

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.