Millennium Management LLC Cuts Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

Millennium Management LLC lessened its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,091 shares of the company’s stock after selling 93,015 shares during the quarter. Millennium Management LLC owned 1.79% of Calavo Growers worth $8,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuance Investments LLC boosted its stake in shares of Calavo Growers by 1.6% in the fourth quarter. Nuance Investments LLC now owns 1,663,515 shares of the company’s stock valued at $42,420,000 after purchasing an additional 26,546 shares during the period. Vanguard Group Inc. grew its stake in shares of Calavo Growers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,148,505 shares of the company’s stock valued at $29,287,000 after acquiring an additional 22,777 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Calavo Growers by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 698,701 shares of the company’s stock valued at $17,817,000 after acquiring an additional 34,263 shares in the last quarter. American Century Companies Inc. increased 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 worth $11,368,000 after acquiring an additional 94,221 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Calavo Growers by 6.9% in the fourth quarter. Russell Investments Group Ltd. now owns 335,914 shares of the company’s stock worth $8,566,000 after acquiring an additional 21,584 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Calavo Growers Trading Up 0.3%

CVGW opened at $25.58 on Monday. Calavo Growers, Inc. has a 12-month low of $20.30 and a 12-month high of $30.58. 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 stock has a market capitalization of $456.27 million, a PE ratio of -426.33 and a beta of 0.42. The firm’s fifty day moving average price is $25.31 and its 200 day moving average price is $24.98.

Calavo Growers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.13%. Calavo Growers’s dividend payout ratio (DPR) is presently 148.15%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th.

Insider Activity at Calavo Growers

In related news, CEO Lecil E. Cole acquired 21,070 shares of Calavo Growers stock in a transaction that occurred on Friday, April 11th. The stock was acquired at an average price of $23.73 per share, for a total transaction of $499,991.10. Following the transaction, the chief executive officer now directly owns 536,070 shares of the company’s stock, valued at $12,720,941.10. This trade represents a 4.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James E. Snyder acquired 3,213 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average price of $23.33 per share, with a total value of $74,959.29. Following the completion of the purchase, the chief financial officer now owns 5,157 shares in the company, valued at $120,312.81. The trade was a 165.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 73,438 shares of company stock valued at $1,771,303 over the last three months. 7.20% of the stock is owned by insiders.

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.