Connor Clark & Lunn Investment Management Ltd. Has $457,000 Stock Holdings in Calavo Growers, Inc. $CVGW

Connor Clark & Lunn Investment Management Ltd. boosted its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 39.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,205 shares of the company’s stock after acquiring an additional 4,843 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Calavo Growers worth $457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in Calavo Growers during the 2nd quarter valued at about $30,000. CWM LLC raised its stake in shares of Calavo Growers by 5,960.5% during the first quarter. CWM LLC now owns 2,303 shares of the company’s stock worth $55,000 after buying an additional 2,265 shares during the last quarter. Virtu Financial LLC acquired a new position in Calavo Growers in the first quarter valued at approximately $219,000. US Bancorp DE boosted its stake in Calavo Growers by 4.4% in the first quarter. US Bancorp DE now owns 9,136 shares of the company’s stock valued at $219,000 after acquiring an additional 384 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Calavo Growers by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock valued at $240,000 after acquiring an additional 390 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Calavo Growers Stock Performance

CVGW stock opened at $18.96 on Friday. Calavo Growers, Inc. has a 1-year low of $18.54 and a 1-year high of $28.72. 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 firm has a market cap of $338.49 million, a PE ratio of 21.55 and a beta of 0.41. The business’s 50-day moving average price is $24.06 and its two-hundred day moving average price is $25.88.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The company had revenue of $178.82 million during the quarter, compared to the consensus estimate of $195.20 million. During the same period in the prior year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts forecast that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. Calavo Growers’s dividend payout ratio is currently 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.