Calavo Growers, Inc. (NASDAQ:CVGW) EVP Michael A. Browne Purchases 6,000 Shares

Calavo Growers, Inc. (NASDAQ:CVGW) EVP Michael A. Browne acquired 6,000 shares of Calavo Growers stock in a transaction that occurred on Wednesday, April 2nd. The stock was bought at an average price of $23.69 per share, with a total value of $142,140.00. Following the purchase, the executive vice president now directly owns 7,500 shares of the company’s stock, valued at approximately $177,675. This trade represents a 400.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Calavo Growers Price Performance

Shares of Calavo Growers stock traded up $0.35 on Thursday, hitting $23.86. The company’s stock had a trading volume of 212,254 shares, compared to its average volume of 206,851. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $23.36 and a 200-day moving average price of $25.63. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The company has a market capitalization of $425.59 million, a P/E ratio of -397.67 and a beta of 0.41.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The business had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. During the same period last year, the company earned ($0.33) EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, April 1st. Calavo Growers’s payout ratio is 148.15%.

Analysts Set New Price Targets

CVGW has been the subject of a number of research reports. StockNews.com upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Monday. Lake Street Capital decreased their target price on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Hedge Funds Weigh In On Calavo Growers

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of Calavo Growers during the third quarter valued at $357,000. BNP Paribas Financial Markets raised its stake in Calavo Growers by 54.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,473 shares of the company’s stock valued at $1,183,000 after purchasing an additional 14,568 shares during the last quarter. Verition Fund Management LLC purchased a new position in Calavo Growers in the 3rd quarter valued at about $746,000. Paloma Partners Management Co acquired a new stake in shares of Calavo Growers during the 3rd quarter worth about $595,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Calavo Growers during the third quarter worth about $219,000. 81.30% of the stock is owned by institutional investors and hedge funds.

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.