Calavo Growers (NASDAQ:CVGW) Posts Earnings Results, Beats Estimates By $0.05 EPS

Calavo Growers (NASDAQ:CVGW) announced its quarterly earnings results on Thursday. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05, FiscalAI reports. The company had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $138.45 million. Calavo Growers had a return on equity of 13.43% and a net margin of 3.05%.

Calavo Growers Price Performance

Shares of NASDAQ CVGW traded down $0.17 during trading hours on Thursday, reaching $24.99. 117,938 shares of the stock traded hands, compared to its average volume of 426,078. The company’s 50-day simple moving average is $25.02 and its two-hundred day simple moving average is $24.08. The company has a market capitalization of $446.57 million, a P/E ratio of 22.72 and a beta of 0.38. Calavo Growers has a 52-week low of $18.40 and a 52-week high of $28.72. The company has a quick ratio of 1.92, a current ratio of 2.47 and a debt-to-equity ratio of 0.02.

Calavo Growers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. Calavo Growers’s dividend payout ratio is 72.73%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVGW. Stephens decreased their price target on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Weiss Ratings raised shares of Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Calavo Growers by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock valued at $240,000 after purchasing an additional 390 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Calavo Growers by 1.1% during the second quarter. Engineers Gate Manager LP now owns 38,354 shares of the company’s stock valued at $1,020,000 after purchasing an additional 422 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Calavo Growers by 43.0% in the 4th quarter. Royal Bank of Canada now owns 1,692 shares of the company’s stock worth $37,000 after purchasing an additional 509 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Calavo Growers by 23.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,648 shares of the company’s stock worth $94,000 after buying an additional 685 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Calavo Growers by 4.6% in the 4th quarter. LPL Financial LLC now owns 17,605 shares of the company’s stock worth $383,000 after buying an additional 772 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Company Profile

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.