Aviance Capital Management LLC Buys New Holdings in Calavo Growers, Inc. (CVGW)
Aviance Capital Management LLC bought a new position in Calavo Growers, Inc. (NASDAQ:CVGW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,214 shares of the company’s stock, valued at approximately $153,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in shares of Calavo Growers by 561.8% during the second quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after acquiring an additional 1,500 shares during the last quarter. Victory Capital Management Inc. grew its stake in Calavo Growers by 54.7% during the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock valued at $126,000 after acquiring an additional 734 shares in the last quarter. SG Americas Securities LLC purchased a new position in Calavo Growers during the second quarter valued at $128,000. PNC Financial Services Group Inc. grew its stake in Calavo Growers by 7.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,169 shares of the company’s stock valued at $131,000 after acquiring an additional 142 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its stake in Calavo Growers by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock valued at $140,000 after acquiring an additional 29 shares in the last quarter. 86.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on CVGW. Zacks Investment Research downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub cut shares of Calavo Growers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Buckingham Research dropped their price objective on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a report on Friday, August 18th. Finally, Stephens reissued an “overweight” rating and set a $85.00 price objective (up previously from $75.00) on shares of Calavo Growers in a 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. The company presently has a consensus rating of “Buy” and a consensus price target of $79.40.
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In other news, Director Kathleen M. Holmgren purchased 1,000 shares of the company’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 transaction, the director now owns 2,750 shares of the company’s stock, valued at $187,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.90% of the company’s stock.
Shares of Calavo Growers, Inc. (NASDAQ CVGW) traded down 0.27% during mid-day trading on Tuesday, hitting $74.60. The stock had a trading volume of 17,431 shares. The stock has a market cap of $1.31 billion, a P/E ratio of 36.04 and a beta of 0.69. The firm has a 50 day moving average of $70.38 and a 200-day moving average of $68.32. Calavo Growers, Inc. has a one year low of $48.75 and a one year high of $76.85.
Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Wednesday, September 6th. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $301.65 million during the quarter, compared to analysts’ expectations of $278.66 million. Calavo Growers had a return on equity of 16.07% and a net margin of 3.46%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Equities research analysts expect that Calavo Growers, Inc. will post $2.06 earnings per share for the current fiscal year.
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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