Teacher Retirement System of Texas Sells 11,133 Shares of Calavo Growers, Inc. $CVGW

Teacher Retirement System of Texas reduced its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 18.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,400 shares of the company’s stock after selling 11,133 shares during the quarter. Teacher Retirement System of Texas owned about 0.28% of Calavo Growers worth $1,314,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP increased its holdings in Calavo Growers by 85.6% in the 1st quarter. Quantbot Technologies LP now owns 11,480 shares of the company’s stock valued at $275,000 after buying an additional 5,295 shares during the period. New York State Teachers Retirement System bought a new position in Calavo Growers in the 1st quarter valued at about $36,000. Vanguard Group Inc. grew its holdings 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 valued at $27,876,000 after purchasing an additional 13,491 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Calavo Growers during the 1st quarter valued at approximately $507,000. Finally, Virtu Financial LLC bought a new stake in shares of Calavo Growers during the 1st quarter valued at approximately $219,000. 81.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Lake Street Capital lifted their price target on shares of Calavo Growers from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Calavo Growers in a report on Wednesday, October 8th. Wall Street Zen raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Stephens raised shares of Calavo Growers to a “hold” rating in a report on Thursday, September 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.00.

Calavo Growers Trading Down 0.4%

CVGW opened at $22.42 on Thursday. Calavo Growers, Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $30.02. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.30 and a quick ratio of 1.86. The firm has a market capitalization of $400.26 million, a price-to-earnings ratio of 25.48 and a beta of 0.41. The company’s 50 day moving average price is $25.48 and its two-hundred day moving average price is $26.36.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm 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 company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. As a group, research analysts predict that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

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