Calavo Growers, Inc. (CVGW) Position Increased by William Blair Investment Management LLC
William Blair Investment Management LLC raised its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 89.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,594 shares of the company’s stock after buying an additional 48,076 shares during the period. William Blair Investment Management LLC owned approximately 0.58% of Calavo Growers worth $7,015,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. BB&T Securities LLC acquired a new stake in shares of Calavo Growers during the second quarter valued at $231,000. Turner Investments LLC acquired a new stake in shares of Calavo Growers during the second quarter valued at $293,000. Blair William & Co. IL increased its stake in shares of Calavo Growers by 45.4% in the second quarter. Blair William & Co. IL now owns 5,605 shares of the company’s stock valued at $387,000 after buying an additional 1,750 shares during the last quarter. KBC Group NV acquired a new stake in shares of Calavo Growers during the second quarter valued at $688,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Calavo Growers by 59.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,557 shares of the company’s stock valued at $315,000 after buying an additional 1,697 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Shares of Calavo Growers, Inc. (NASDAQ CVGW) opened at 70.00 on Friday. The company has a market cap of $1.23 billion, a P/E ratio of 30.45 and a beta of 0.62. The company’s 50-day moving average price is $71.62 and its 200 day moving average price is $65.78. Calavo Growers, Inc. has a 52 week low of $48.75 and a 52 week high of $76.85.
Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. The firm 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%. The business’s 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. On average, equities analysts forecast that Calavo Growers, Inc. will post $2.23 EPS for the current fiscal year.
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Several analysts recently weighed in on the company. Zacks Investment Research upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Tuesday, August 22nd. Buckingham Research decreased their target price on Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, August 18th. BidaskClub upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Stephens restated an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $79.40.
In other news, Director Kathleen M. Holmgren bought 1,000 shares of the stock in a transaction on Thursday, July 6th. The shares were purchased at an average cost of $68.00 per share, for a total transaction of $68,000.00. Following the completion of the purchase, the director now directly owns 2,750 shares in the company, valued at approximately $187,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marc Laurence Brown sold 750 shares of the business’s stock in a transaction on 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 in the company, valued at $758,510. The disclosure for this sale can be found here. Insiders own 9.90% 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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