Calavo Growers, Inc. (NASDAQ:CVGW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, May 15th.

According to Zacks, “Calavo Growers, Inc. engages in the procurement and marketing of avocados and other perishable foods and the preparation and distribution of processed avocado products. Their expertise in marketing and distributing avocado, processed avocado, and other perishable foods allows them to deliver a wide array of fresh and processed food products to food distributors, produce wholesalers, supermarkets, and restaurants on a worldwide basis. “

Shares of Calavo Growers (NASDAQ CVGW) traded down 3.42% on Monday, reaching $70.50. The company’s stock had a trading volume of 441,768 shares. The stock has a 50-day moving average of $68.49 and a 200 day moving average of $61.40. Calavo Growers has a 52 week low of $48.75 and a 52 week high of $76.85. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 30.67 and a beta of 0.55.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Tuesday, June 6th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The business had revenue of $270.20 million for the quarter, compared to analyst estimates of $259.79 million. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. Calavo Growers’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. On average, analysts expect that Calavo Growers will post $2.47 EPS for the current year.

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In other Calavo Growers news, Director Marc Laurence Brown sold 750 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.10, for a total value of $56,325.00. Following the transaction, the director now directly owns 10,100 shares in the company, valued at approximately $758,510. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Lecil E. Cole acquired 42,942 shares of the firm’s stock in a transaction on Tuesday, April 11th. The stock was purchased at an average price of $61.78 per share, for a total transaction of $2,652,956.76. Following the completion of the transaction, the chairman now directly owns 604,923 shares in the company, valued at approximately $37,372,142.94. The disclosure for this purchase can be found here. 9.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVGW. Point72 Asset Management L.P. purchased a new position in shares of Calavo Growers during the first quarter worth approximately $11,229,000. Ranger Investment Management L.P. raised its position in shares of Calavo Growers by 41.2% in the first quarter. Ranger Investment Management L.P. now owns 466,676 shares of the company’s stock worth $28,281,000 after buying an additional 136,237 shares during the last quarter. Otter Creek Advisors LLC raised its position in shares of Calavo Growers by 0.9% in the first quarter. Otter Creek Advisors LLC now owns 267,995 shares of the company’s stock worth $16,240,000 after buying an additional 2,297 shares during the last quarter. State Street Corp raised its position in shares of Calavo Growers by 7.7% in the first quarter. State Street Corp now owns 364,628 shares of the company’s stock worth $22,092,000 after buying an additional 26,094 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Calavo Growers by 10.8% in the first quarter. Bank of America Corp DE now owns 55,417 shares of the company’s stock worth $3,359,000 after buying an additional 5,385 shares during the last quarter. Hedge funds and other institutional investors own 82.38% of the company’s stock.

Calavo Growers Company Profile

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

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