Short Interest in Calavo Growers, Inc. (CVGW) Drops By 4.4%
Calavo Growers, Inc. (NASDAQ:CVGW) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 5,510,036 shares, a decrease of 4.4% from the November 15th total of 5,761,426 shares. Currently, 36.2% of the shares of the stock are short sold. Based on an average daily volume of 87,777 shares, the days-to-cover ratio is presently 62.8 days.
Shares of Calavo Growers (NASDAQ CVGW) opened at $79.25 on Thursday. Calavo Growers has a 1-year low of $48.75 and a 1-year high of $83.00. The firm has a market cap of $1,390.00, a PE ratio of 35.76 and a beta of 0.65.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Tuesday, December 19th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. The company had revenue of $277.20 million during the quarter, compared to analyst estimates of $297.40 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. research analysts anticipate that Calavo Growers will post 2.05 EPS for the current year.
A number of brokerages have weighed in on CVGW. Stephens upped their price target on shares of Calavo Growers from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Lake Street Capital reissued a “buy” rating and issued a $91.00 price target (up from $76.00) on shares of Calavo Growers in a report on Wednesday. Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, BidaskClub downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.40.
In related news, insider James E. Snyder sold 750 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total value of $52,642.50. Following the completion of the sale, the insider now owns 11,095 shares of the company’s stock, valued at $778,758.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Calavo Growers by 4.3% during the second quarter. Vanguard Group Inc. now owns 877,726 shares of the company’s stock valued at $60,607,000 after buying an additional 36,077 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in Calavo Growers by 4.6% during the second quarter. Stephens Investment Management Group LLC now owns 782,453 shares of the company’s stock valued at $54,028,000 after buying an additional 34,752 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Calavo Growers by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 645,154 shares of the company’s stock valued at $47,225,000 after buying an additional 12,002 shares in the last quarter. State Street Corp lifted its stake in Calavo Growers by 5.1% during the second quarter. State Street Corp now owns 383,219 shares of the company’s stock valued at $26,462,000 after buying an additional 18,591 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Calavo Growers by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 383,180 shares of the company’s stock valued at $28,048,000 after buying an additional 2,511 shares in the last quarter. 92.17% of the stock is owned by institutional investors.
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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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