Oppenheimer Asset Management Inc. Invests $272,000 in Calavo Growers, Inc. $CVGW

Oppenheimer Asset Management Inc. purchased a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,240 shares of the company’s stock, valued at approximately $272,000. Oppenheimer Asset Management Inc. owned 0.06% of Calavo Growers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nuance Investments LLC grew its stake in shares of Calavo Growers by 6.4% during the 1st quarter. Nuance Investments LLC now owns 1,770,251 shares of the company’s stock worth $42,468,000 after purchasing an additional 106,736 shares during the period. Vanguard Group Inc. grew its stake in shares of Calavo Growers by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company’s stock worth $27,876,000 after purchasing an additional 13,491 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Calavo Growers by 91.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company’s stock worth $6,608,000 after purchasing an additional 131,674 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Calavo Growers by 19.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 267,700 shares of the company’s stock worth $6,422,000 after buying an additional 44,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Calavo Growers by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 206,410 shares of the company’s stock worth $4,952,000 after buying an additional 669 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVGW. Wall Street Zen upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Lake Street Capital boosted their price objective on shares of Calavo Growers from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Stephens upgraded shares of Calavo Growers to a “hold” rating in a research report on Thursday, September 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Calavo Growers in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.00.

Calavo Growers Price Performance

NASDAQ:CVGW opened at $22.21 on Monday. The firm has a market cap of $396.52 million, a price-to-earnings ratio of 25.24 and a beta of 0.41. The company has a current ratio of 2.30, a quick ratio of 1.86 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $25.77 and its two-hundred day moving average is $26.44. Calavo Growers, Inc. has a 12-month low of $21.46 and a 12-month high of $30.02.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $178.82 million for the quarter, compared to analyst estimates of $195.20 million. Calavo Growers had a net margin of 2.28% and a return on equity of 11.73%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Research analysts expect that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, September 30th. Calavo Growers’s dividend payout ratio is 90.91%.

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.