Calavo Growers (NASDAQ:CVGW) Shares Cross Above 200 Day Moving Average – Time to Sell?

Calavo Growers, Inc. (NASDAQ:CVGW)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.35 and traded as high as $26.57. Calavo Growers shares last traded at $26.35, with a volume of 1,297,837 shares changing hands.

Analysts Set New Price Targets

CVGW has been the subject of a number of research reports. Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Calavo Growers in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Calavo Growers has a consensus rating of “Hold” and a consensus target price of $40.00.

Calavo Growers Trading Up 1.8%

The firm has a market cap of $470.87 million, a price-to-earnings ratio of 23.95 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.47 and a quick ratio of 1.92. The business has a 50-day moving average of $21.51 and a 200-day moving average of $24.35.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, January 14th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.12). The company had revenue of $124.68 million for the quarter, compared to analyst estimates of $147.95 million. Calavo Growers had a net margin of 3.05% and a return on equity of 13.43%. Research analysts anticipate that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. Calavo Growers’s dividend payout ratio (DPR) is currently 72.73%.

Institutional Trading of Calavo Growers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Calavo Growers by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,265,417 shares of the company’s stock valued at $32,572,000 after acquiring an additional 11,979 shares during the period. SG Capital Management LLC bought a new stake in shares of Calavo Growers in the 3rd quarter valued at about $13,443,000. Geode Capital Management LLC lifted its stake in Calavo Growers by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 481,601 shares of the company’s stock valued at $12,807,000 after purchasing an additional 1,683 shares during the last quarter. Old West Investment Management LLC grew its holdings in Calavo Growers by 1.8% during the third quarter. Old West Investment Management LLC now owns 434,966 shares of the company’s stock worth $11,196,000 after purchasing an additional 7,587 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Calavo Growers by 10.0% during the third quarter. Russell Investments Group Ltd. now owns 425,383 shares of the company’s stock worth $10,949,000 after purchasing an additional 38,620 shares during the period. 81.30% of the stock is owned by institutional investors.

About Calavo Growers

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.