Calavo Growers Inc. (CVGW) Receives Average Rating of “Buy” from Brokerages
Shares of Calavo Growers Inc. (NASDAQ:CVGW) have earned an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $65.94.
Several research firms have commented on CVGW. Wunderlich began coverage on shares of Calavo Growers in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price target for the company. Stephens boosted their price target on shares of Calavo Growers from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. DA Davidson set a $65.00 target price on shares of Calavo Growers and gave the stock a “hold” rating in a research note on Sunday, August 28th. Lake Street Capital boosted their target price on shares of Calavo Growers from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th. Finally, Zacks Investment Research downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th.
In related news, Director John M. Hunt sold 14,250 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $68.72, for a total value of $979,260.00. Following the completion of the sale, the director now directly owns 38,000 shares of the company’s stock, valued at $2,611,360. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kenneth J. Catchot sold 35,647 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $69.42, for a total transaction of $2,474,614.74. Following the completion of the sale, the insider now directly owns 441,472 shares of the company’s stock, valued at $30,646,986.24. The disclosure for this sale can be found here. 10.20% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of Calavo Growers by 48.4% in the second quarter. Barclays PLC now owns 1,800 shares of the company’s stock worth $121,000 after buying an additional 587 shares during the last quarter. PineBridge Investments L.P. boosted its stake in shares of Calavo Growers by 6.3% in the second quarter. PineBridge Investments L.P. now owns 1,879 shares of the company’s stock worth $126,000 after buying an additional 111 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Calavo Growers by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,059 shares of the company’s stock worth $138,000 after buying an additional 252 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Calavo Growers during the third quarter worth approximately $144,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Calavo Growers by 1,032.0% in the second quarter. Cubist Systematic Strategies LLC now owns 2,264 shares of the company’s stock worth $152,000 after buying an additional 2,064 shares during the last quarter. 63.24% of the stock is owned by institutional investors and hedge funds.
Shares of Calavo Growers (NASDAQ:CVGW) traded up 0.71% during trading on Monday, reaching $63.90. The company had a trading volume of 56,169 shares. The firm has a 50-day moving average of $65.20 and a 200 day moving average of $62.13. The firm has a market capitalization of $1.11 billion, a PE ratio of 33.09 and a beta of 0.54. Calavo Growers has a 1-year low of $46.56 and a 1-year high of $71.48.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The business earned $263.15 million during the quarter, compared to the consensus estimate of $243.80 million. Calavo Growers had a net margin of 3.75% and a return on equity of 16.80%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Analysts expect that Calavo Growers will post $2.11 earnings per share for the current year.
The business also recently declared an annual dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a $0.90 dividend. The ex-dividend date is Tuesday, November 15th. This is a boost from Calavo Growers’s previous annual dividend of $0.80. This represents a yield of 1.36%. Calavo Growers’s payout ratio is 41.24%.
About Calavo Growers
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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