Calavo Growers, Inc. (NASDAQ:CVGW – Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 549,800 shares, a drop of 25.9% from the October 15th total of 741,600 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average trading volume of 276,100 shares, the days-to-cover ratio is currently 2.0 days.
Institutional Investors Weigh In On Calavo Growers
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in shares of Calavo Growers during the 2nd quarter worth about $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Calavo Growers by 40.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock worth $87,000 after acquiring an additional 1,100 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Calavo Growers by 318.4% in the 1st quarter. EntryPoint Capital LLC now owns 5,380 shares of the company’s stock valued at $150,000 after purchasing an additional 4,094 shares during the period. LMR Partners LLP acquired a new stake in shares of Calavo Growers in the 3rd quarter valued at about $253,000. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Calavo Growers by 13.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock valued at $274,000 after purchasing an additional 1,192 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.
Calavo Growers Stock Down 0.9 %
NASDAQ:CVGW traded down $0.25 during mid-day trading on Thursday, hitting $27.65. 83,523 shares of the company’s stock traded hands, compared to its average volume of 213,753. The company has a fifty day moving average of $27.86 and a 200 day moving average of $25.71. Calavo Growers has a twelve month low of $20.30 and a twelve month high of $31.26. The company has a market capitalization of $492.23 million, a P/E ratio of -55.80 and a beta of 0.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04.
Calavo Growers Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Wednesday, October 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Wednesday, October 2nd. This is a boost from Calavo Growers’s previous quarterly dividend of $0.10. Calavo Growers’s dividend payout ratio (DPR) is currently -160.00%.
Analysts Set New Price Targets
Separately, StockNews.com raised Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.
Get Our Latest Stock Analysis on Calavo Growers
About Calavo Growers
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.
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