Calavo Growers, Inc. (NASDAQ:CVGW) Announces $0.20 Quarterly Dividend

Calavo Growers, Inc. (NASDAQ:CVGW) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.20 per share on Tuesday, April 29th. This represents a $0.80 annualized dividend and a yield of 3.73%. The ex-dividend date is Tuesday, April 1st.

Calavo Growers has decreased its dividend payment by an average of 19.5% annually over the last three years. Calavo Growers has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Trading Down 1.4 %

CVGW stock traded down $0.31 during trading on Thursday, hitting $21.47. The company had a trading volume of 334,301 shares, compared to its average volume of 197,201. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $382.17 million, a P/E ratio of -357.83 and a beta of 0.57. The company has a 50 day simple moving average of $23.48 and a 200-day simple moving average of $25.74. Calavo Growers has a 52-week low of $20.30 and a 52-week high of $30.58.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $169.96 million for the quarter, compared to analyst estimates of $161.99 million. Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. As a group, research analysts forecast that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Lake Street Capital lowered their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.