Calavo Growers (NASDAQ:CVGW) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Calavo Growers, Inc. (NASDAQ:CVGW) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.88 and traded as high as $25.66. Calavo Growers shares last traded at $25.51, with a volume of 223,912 shares.

Analyst Ratings Changes

Several research analysts have weighed in on CVGW shares. Stephens lowered their price target on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings raised Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Finally, Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Calavo Growers has an average rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.21 and a quick ratio of 1.66. The stock’s 50-day moving average price is $25.57 and its 200-day moving average price is $23.91. The company has a market cap of $469.44 million, a P/E ratio of 29.52 and a beta of 0.38.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Calavo Growers had a net margin of 2.61% and a return on equity of 12.81%. The business had revenue of $122.20 million for the quarter, compared to analyst estimates of $138.45 million. Equities analysts anticipate that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s payout ratio is presently 89.89%.

Institutional Investors Weigh In On Calavo Growers

A number of large investors have recently added to or reduced their stakes in CVGW. EP Wealth Advisors LLC acquired a new position in Calavo Growers in the 4th quarter valued at $237,000. Numerai GP LLC bought a new position in shares of Calavo Growers in the fourth quarter worth $997,000. Millennium Management LLC increased its position in shares of Calavo Growers by 23.4% in the fourth quarter. Millennium Management LLC now owns 53,905 shares of the company’s stock worth $1,172,000 after purchasing an additional 10,208 shares during the period. Inspire Investing LLC raised its stake in Calavo Growers by 24.7% in the fourth quarter. Inspire Investing LLC now owns 21,771 shares of the company’s stock valued at $474,000 after purchasing an additional 4,315 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Calavo Growers in the fourth quarter valued at about $367,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

About Calavo Growers

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.