Buckingham Research Reaffirms “Buy” Rating for Calavo Growers (CVGW)
Buckingham Research reiterated their buy rating on shares of Calavo Growers (NASDAQ:CVGW) in a research note issued to investors on Thursday morning. The brokerage currently has a $95.00 price objective on the stock, up from their prior price objective of $88.00.
A number of other equities research analysts have also recently commented on CVGW. Lake Street Capital set a $91.00 target price on shares of Calavo Growers and gave the company a buy rating in a report on Thursday. BidaskClub lowered shares of Calavo Growers from a strong-buy rating to a buy rating in a research note on Wednesday, February 28th. Zacks Investment Research upgraded shares of Calavo Growers from a hold rating to a buy rating and set a $99.00 price target on the stock in a research note on Tuesday, February 27th. Finally, Stephens boosted their price target on shares of Calavo Growers from $85.00 to $100.00 and gave the stock an overweight rating in a research note on Wednesday, December 20th. Five investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average target price of $96.25.
Shares of Calavo Growers (NASDAQ:CVGW) traded up $0.80 during trading hours on Thursday, hitting $88.00. 134,705 shares of the stock were exchanged, compared to its average volume of 137,675. Calavo Growers has a 1-year low of $55.65 and a 1-year high of $90.85. The stock has a market capitalization of $1,542.90, a PE ratio of 39.29 and a beta of 0.69.
In other news, insider James E. Gibson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the transaction, the insider now directly owns 61,991 shares in the company, valued at $4,905,967.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marc Laurence Brown sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $85.05, for a total transaction of $85,050.00. Following the transaction, the director now owns 9,600 shares in the company, valued at $816,480. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Calavo Growers by 1.4% during the fourth quarter. BlackRock Inc. now owns 2,002,202 shares of the company’s stock worth $168,987,000 after acquiring an additional 27,805 shares during the period. Dimensional Fund Advisors LP grew its position in Calavo Growers by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 645,154 shares of the company’s stock worth $47,225,000 after buying an additional 12,002 shares during the period. Cardinal Capital Management LLC CT grew its position in Calavo Growers by 2.5% during the fourth quarter. Cardinal Capital Management LLC CT now owns 468,858 shares of the company’s stock worth $39,572,000 after buying an additional 11,223 shares during the period. State Street Corp grew its position in Calavo Growers by 5.1% during the second quarter. State Street Corp now owns 383,219 shares of the company’s stock worth $26,462,000 after buying an additional 18,591 shares during the period. Finally, Bank of New York Mellon Corp grew its position 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 worth $28,048,000 after buying an additional 2,511 shares during the period. Institutional investors and hedge funds own 89.85% 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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