Calavo Growers, Inc. (NASDAQ:CVGW) Position Boosted by US Bancorp DE

US Bancorp DE lifted its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,136 shares of the company’s stock after purchasing an additional 384 shares during the period. US Bancorp DE owned about 0.05% of Calavo Growers worth $219,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Pinnacle Associates Ltd. bought a new position in shares of Calavo Growers during the first quarter worth about $507,000. Allianz Asset Management GmbH lifted its position in shares of Calavo Growers by 8.1% during the first quarter. Allianz Asset Management GmbH now owns 46,147 shares of the company’s stock worth $1,107,000 after purchasing an additional 3,465 shares during the last quarter. Bailard Inc. bought a new position in Calavo Growers in the first quarter worth about $249,000. CWM LLC lifted its holdings in Calavo Growers by 5,960.5% in the first quarter. CWM LLC now owns 2,303 shares of the company’s stock worth $55,000 after acquiring an additional 2,265 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Calavo Growers by 3.9% in the first quarter. New York State Common Retirement Fund now owns 165,694 shares of the company’s stock worth $3,975,000 after acquiring an additional 6,177 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Calavo Growers Stock Performance

Shares of NASDAQ CVGW opened at $27.39 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $26.81 and its two-hundred day moving average price is $25.37. Calavo Growers, Inc. has a 52-week low of $21.46 and a 52-week high of $30.02. The stock has a market capitalization of $488.64 million, a P/E ratio of 47.22 and a beta of 0.42.

Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Monday, June 9th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%. The business had revenue of $190.55 million during the quarter, compared to the consensus estimate of $192.75 million. During the same period in the prior year, the business earned $0.50 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 30th. Investors of record on Monday, June 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, June 30th. Calavo Growers’s dividend payout ratio (DPR) is currently 137.93%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Thursday, May 15th.

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.