Louisiana State Employees Retirement System Has $435,000 Stake in Calavo Growers, Inc. (CVGW)
Louisiana State Employees Retirement System maintained its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Calavo Growers were worth $435,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Rice Hall James & Associates LLC bought a new position in shares of Calavo Growers during the first quarter valued at approximately $13,594,000. Teachers Advisors LLC raised its position in shares of Calavo Growers by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 29,079 shares of the company’s stock valued at $1,785,000 after buying an additional 3,361 shares during the period. AQR Capital Management LLC raised its position in shares of Calavo Growers by 42.2% in the fourth quarter. AQR Capital Management LLC now owns 13,468 shares of the company’s stock valued at $827,000 after buying an additional 3,994 shares during the period. Cadence Capital Management LLC raised its position in shares of Calavo Growers by 4.4% in the first quarter. Cadence Capital Management LLC now owns 18,410 shares of the company’s stock valued at $1,116,000 after buying an additional 778 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Calavo Growers during the first quarter valued at approximately $3,243,000. Institutional investors and hedge funds own 83.26% of the company’s stock.
Calavo Growers, Inc. (CVGW) traded up 1.18% during mid-day trading on Friday, hitting $72.90. 65,277 shares of the stock were exchanged. The stock has a 50 day moving average of $71.13 and a 200-day moving average of $64.72. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 31.71 and a beta of 0.62. Calavo Growers, Inc. has a 52-week low of $48.75 and a 52-week high of $76.85.
Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings data on Tuesday, June 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.08. The firm had revenue of $270.20 million during the quarter, compared to the consensus estimate of $259.79 million. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. Equities analysts predict that Calavo Growers, Inc. will post $2.39 EPS for the current fiscal year.
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CVGW has been the subject of several research reports. Zacks Investment Research lowered shares of Calavo Growers from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. BidaskClub upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Finally, Stephens restated an “overweight” rating and issued a $85.00 price objective (up from $75.00) on shares of Calavo Growers in a report on Friday, June 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $78.75.
In other news, Director Kathleen M. Holmgren acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average cost of $68.00 per share, for a total transaction of $68,000.00. Following the completion of the acquisition, the director now directly owns 2,750 shares of the company’s stock, valued at approximately $187,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Laurence Brown sold 750 shares of Calavo Growers stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total value of $56,325.00. Following the completion of the sale, the director now owns 10,100 shares of the company’s stock, valued at $758,510. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
About Calavo Growers
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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