Calavo Growers, Inc. $CVGW Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 59.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,846 shares of the company’s stock after purchasing an additional 22,361 shares during the period. Envestnet Asset Management Inc. owned about 0.34% of Calavo Growers worth $1,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVGW. Old West Investment Management LLC acquired a new stake in Calavo Growers during the second quarter valued at approximately $11,364,000. Balyasny Asset Management L.P. increased its holdings in shares of Calavo Growers by 1,873.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 226,793 shares of the company’s stock valued at $6,030,000 after acquiring an additional 215,303 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Calavo Growers by 588.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 236,579 shares of the company’s stock valued at $6,291,000 after acquiring an additional 202,221 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Calavo Growers by 91.6% during the first 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Calavo Growers in the second quarter worth $3,102,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVGW. Stephens lowered their target price on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Wall Street Zen downgraded Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings cut Calavo Growers from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

Calavo Growers Trading Up 1.1%

Shares of CVGW stock opened at $26.84 on Monday. The stock has a 50-day simple moving average of $24.33 and a 200 day simple moving average of $24.15. The stock has a market capitalization of $479.63 million, a P/E ratio of 24.40 and a beta of 0.38. Calavo Growers, Inc. has a fifty-two week low of $18.40 and a fifty-two week high of $28.72. The company has a quick ratio of 1.92, a current ratio of 2.47 and a debt-to-equity ratio of 0.02.

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). Calavo Growers had a return on equity of 13.43% and a net margin of 3.05%.The business had revenue of $124.68 million during the quarter, compared to the consensus estimate of $147.95 million. On average, sell-side analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s dividend payout ratio (DPR) is presently 72.73%.

Calavo Growers Profile

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.