Municipal Employees Retirement System of Michigan grew its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 64.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,940 shares of the company’s stock after acquiring an additional 2,320 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Calavo Growers were worth $435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its holdings in Calavo Growers by 561.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after buying an additional 1,500 shares during the period. SG Americas Securities LLC acquired a new position in Calavo Growers in the 2nd quarter worth approximately $128,000. Pinebridge Investments L.P. increased its holdings in Calavo Growers by 1.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after buying an additional 29 shares during the period. Aviance Capital Management LLC acquired a new position in Calavo Growers in the 2nd quarter worth approximately $153,000. Finally, Victory Capital Management Inc. increased its holdings in Calavo Growers by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,444 shares of the company’s stock worth $169,000 after buying an additional 367 shares during the period. Hedge funds and other institutional investors own 92.22% of the company’s stock.

Several equities analysts recently weighed in on the stock. Buckingham Research cut their price target on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Zacks Investment Research downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $79.40.

In other news, insider James E. Snyder sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total transaction of $52,642.50. Following the sale, the insider now owns 11,095 shares of the company’s stock, valued at approximately $778,758.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.90% of the stock is owned by company insiders.

Calavo Growers, Inc. (CVGW) opened at $74.00 on Thursday. Calavo Growers, Inc. has a fifty-two week low of $48.75 and a fifty-two week high of $77.89. The firm has a market cap of $1,290.00, a P/E ratio of 36.56 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $301.65 million for the quarter, compared to the consensus estimate of $278.66 million. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. Calavo Growers’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. research analysts expect that Calavo Growers, Inc. will post 2.05 earnings per share for the current year.

The company also recently disclosed an annual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.95 per share. This is a boost from Calavo Growers’s previous annual dividend of $0.90. The ex-dividend date is Thursday, November 16th. This represents a dividend yield of 1.29%. Calavo Growers’s dividend payout ratio (DPR) is presently 45.89%.

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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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Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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