Calavo Growers Inc. (CVGW) Receives $66.80 Average PT from Brokerages
Shares of Calavo Growers Inc. (NASDAQ:CVGW) have earned a consensus rating of “Buy” from the seven analysts that are presently covering the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $66.80.
A number of analysts have recently commented on the company. Zacks Investment Research cut Calavo Growers from a “buy” rating to a “hold” rating in a research report on Monday, November 14th. Stephens upgraded Calavo Growers from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 11th. Lake Street Capital lifted their target price on Calavo Growers from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, DA Davidson lifted their target price on Calavo Growers from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th.
In related news, insider Kenneth J. Catchot sold 35,647 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $69.42, for a total value of $2,474,614.74. Following the transaction, the insider now owns 441,472 shares in the company, valued at approximately $30,646,986.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Hunt sold 14,250 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 38,000 shares in the company, valued at approximately $2,611,360. The disclosure for this sale can be found here. 10.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of CVGW. First Trust Advisors LP boosted its position in shares of Calavo Growers by 41.4% in the second quarter. First Trust Advisors LP now owns 36,780 shares of the company’s stock valued at $2,464,000 after buying an additional 10,763 shares during the period. GSA Capital Partners LLP boosted its position in Calavo Growers by 28.0% in the second quarter. GSA Capital Partners LLP now owns 19,177 shares of the company’s stock valued at $1,285,000 after buying an additional 4,200 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Calavo Growers during the second quarter valued at about $335,000. Swiss National Bank boosted its position in Calavo Growers by 8.1% in the second quarter. Swiss National Bank now owns 25,500 shares of the company’s stock valued at $1,709,000 after buying an additional 1,900 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Calavo Growers by 2.2% in the second quarter. Suntrust Banks Inc. now owns 6,167 shares of the company’s stock valued at $413,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 61.88% of the company’s stock.
Calavo Growers (NASDAQ:CVGW) opened at 56.55 on Tuesday. Calavo Growers has a 12 month low of $46.56 and a 12 month high of $71.48. The stock has a market cap of $986.12 million, a P/E ratio of 29.29 and a beta of 0.56. The firm’s 50-day moving average price is $61.92 and its 200-day moving average price is $63.18.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.14. The company earned $263.15 million during the quarter, compared to the consensus estimate of $243.80 million. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. Calavo Growers’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. On average, analysts predict that Calavo Growers will post $2.15 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. This represents a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, November 15th. This is a boost from Calavo Growers’s previous annual dividend of $0.80. Calavo Growers’s payout ratio is 46.39%.
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Calavo Growers Company Profile
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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