Calavo Growers, Inc. (CVGW) Shares Bought by Renaissance Group LLC
Renaissance Group LLC raised its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,762 shares of the company’s stock after buying an additional 68 shares during the period. Renaissance Group LLC’s holdings in Calavo Growers were worth $398,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in Calavo Growers by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 1,690 shares of the company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Victory Capital Management Inc. raised its stake in Calavo Growers by 54.7% in the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock worth $126,000 after buying an additional 734 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Calavo Growers during the second quarter worth approximately $128,000. PNC Financial Services Group Inc. raised its stake in Calavo Growers by 7.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,169 shares of the company’s stock worth $131,000 after buying an additional 142 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Calavo Growers during the first quarter worth approximately $150,000. 86.93% of the stock is currently owned by institutional investors.
Calavo Growers, Inc. (NASDAQ CVGW) opened at 69.00 on Wednesday. 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 12-month low of $48.75 and a 12-month high of $76.85. The company has a market capitalization of $1.21 billion, a P/E ratio of 30.01 and a beta of 0.62.
Calavo Growers (NASDAQ:CVGW) last released 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. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. The firm had revenue of $270.20 million during the quarter, compared to analyst estimates of $259.79 million. During the same period last year, the business earned $0.56 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. Equities analysts forecast that Calavo Growers, Inc. will post $2.12 earnings per share for the current fiscal year.
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CVGW has been the topic of a number of research analyst reports. BidaskClub raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Buckingham Research dropped their price target on Calavo Growers from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, August 18th. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday, August 22nd. Finally, Stephens reaffirmed an “overweight” rating and set a $85.00 price target (up previously from $75.00) on shares of Calavo Growers in a research report on Friday, June 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Calavo Growers has a consensus rating of “Buy” and a consensus price target of $79.40.
In other news, Director Marc Laurence Brown sold 750 shares of Calavo Growers stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total transaction of $56,325.00. Following the completion of the transaction, the director now directly owns 10,100 shares in the company, valued at $758,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen M. Holmgren bought 1,000 shares of the stock in a transaction dated Thursday, July 6th. The shares were acquired at an average price of $68.00 per share, with a total value 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 disclosure for this purchase can be found here. 9.90% of the stock is currently owned by company insiders.
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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