JPMorgan Chase & Co. Lowers Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

JPMorgan Chase & Co. cut its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,442 shares of the company’s stock after selling 33,399 shares during the quarter. JPMorgan Chase & Co. owned about 0.51% of Calavo Growers worth $2,306,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in shares of Calavo Growers by 26.8% during the fourth quarter. American Century Companies Inc. now owns 445,817 shares of the company’s stock valued at $11,368,000 after buying an additional 94,221 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Calavo Growers in the fourth quarter worth $1,371,000. Bank of New York Mellon Corp increased its position in shares of Calavo Growers by 26.4% during the fourth quarter. Bank of New York Mellon Corp now owns 152,141 shares of the company’s stock worth $3,880,000 after purchasing an additional 31,743 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Calavo Growers during the 4th quarter valued at $709,000. Finally, Nuance Investments LLC boosted its position in shares of Calavo Growers by 1.6% in the 4th quarter. Nuance Investments LLC now owns 1,663,515 shares of the company’s stock worth $42,420,000 after purchasing an additional 26,546 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVGW has been the subject of a number of research analyst reports. Lake Street Capital decreased their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. StockNews.com lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th.

Insider Buying and Selling

In other Calavo Growers news, CEO Lecil E. Cole purchased 38,155 shares of Calavo Growers stock in a transaction on Monday, April 14th. The stock was bought at an average cost of $24.60 per share, with a total value of $938,613.00. Following the transaction, the chief executive officer now owns 574,225 shares of the company’s stock, valued at $14,125,935. This represents a 7.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael A. Browne acquired 5,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were acquired at an average price of $23.12 per share, with a total value of $115,600.00. Following the completion of the purchase, the executive vice president now owns 6,400 shares in the company, valued at approximately $147,968. This trade represents a 357.14 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 73,438 shares of company stock valued at $1,771,303 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Calavo Growers Price Performance

Shares of CVGW opened at $28.18 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The company’s fifty day moving average price is $23.81 and its 200-day moving average price is $25.20. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $30.58. The firm has a market capitalization of $502.65 million, a PE ratio of -469.67 and a beta of 0.41.

Calavo Growers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Tuesday, April 1st. Calavo Growers’s payout ratio is 148.15%.

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.