Calavo Growers (NASDAQ:CVGW) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Calavo Growers, Inc. (NASDAQ:CVGW)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $24.30 and traded as high as $25.25. Calavo Growers shares last traded at $25.04, with a volume of 490,038 shares trading hands.

Wall Street Analyst Weigh In

CVGW has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Calavo Growers in a report on Monday, December 29th. Stephens lowered their price objective on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Trading Up 0.7%

The business’s fifty day moving average is $22.14 and its 200-day moving average is $24.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.47. The firm has a market cap of $447.46 million, a P/E ratio of 22.76 and a beta of 0.37.

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

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, January 13th. Calavo Growers’s payout ratio is 72.73%.

Hedge Funds Weigh In On Calavo Growers

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Calavo Growers by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock valued at $240,000 after buying an additional 390 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of Calavo Growers by 1.1% during the second quarter. Engineers Gate Manager LP now owns 38,354 shares of the company’s stock valued at $1,020,000 after acquiring an additional 422 shares in the last quarter. Inspire Investing LLC raised its position in shares of Calavo Growers by 3.3% during the second quarter. Inspire Investing LLC now owns 14,724 shares of the company’s stock worth $392,000 after purchasing an additional 469 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Calavo Growers by 23.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,648 shares of the company’s stock worth $94,000 after purchasing an additional 685 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Calavo Growers by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,956 shares of the company’s stock valued at $282,000 after purchasing an additional 716 shares during the period. Institutional investors own 81.30% of the company’s stock.

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.