Calavo Growers (NASDAQ:CVGW) Price Target Raised to $40.00

Calavo Growers (NASDAQ:CVGW) had its price target hoisted by Lake Street Capital from $35.00 to $40.00 in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Separately, Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Calavo Growers Price Performance

Shares of NASDAQ CVGW opened at $27.37 on Wednesday. The stock has a fifty day simple moving average of $27.02 and a two-hundred day simple moving average of $25.96. Calavo Growers has a 1-year low of $21.46 and a 1-year high of $30.02. The firm has a market cap of $488.64 million, a price-to-earnings ratio of 31.10 and a beta of 0.39. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The business had revenue of $178.82 million during the quarter, compared to analyst estimates of $195.20 million. During the same period in the prior year, the company earned $0.57 earnings per share. Calavo Growers’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that Calavo Growers will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 30th. Calavo Growers’s payout ratio is 90.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in Calavo Growers in the second quarter worth $289,000. Tower Research Capital LLC TRC grew its position in Calavo Growers by 673.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock worth $74,000 after acquiring an additional 2,416 shares in the last quarter. FFT Wealth Management LLC grew its position in Calavo Growers by 14.3% in the second quarter. FFT Wealth Management LLC now owns 21,400 shares of the company’s stock worth $577,000 after acquiring an additional 2,675 shares in the last quarter. Lazard Asset Management LLC grew its position in Calavo Growers by 224.8% in the second quarter. Lazard Asset Management LLC now owns 7,468 shares of the company’s stock worth $198,000 after acquiring an additional 5,169 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in Calavo Growers by 1.1% in the second quarter. Engineers Gate Manager LP now owns 38,354 shares of the company’s stock worth $1,020,000 after acquiring an additional 422 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

About Calavo Growers

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.