Calavo Growers, Inc. (NASDAQ:CVGW) Short Interest Update

Calavo Growers, Inc. (NASDAQ:CVGW) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 1,245,527 shares, an increase of 16.0% from the February 12th total of 1,073,608 shares. Approximately 7.5% of the company’s shares are short sold. Based on an average daily trading volume, of 168,031 shares, the days-to-cover ratio is presently 7.4 days. Based on an average daily trading volume, of 168,031 shares, the days-to-cover ratio is presently 7.4 days. Approximately 7.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Calavo Growers

Hedge funds have recently bought and sold shares of the company. Garner Asset Management Corp acquired a new position in Calavo Growers during the 4th quarter worth $26,000. Quarry LP acquired a new stake in Calavo Growers in the 3rd quarter valued at about $28,000. Royal Bank of Canada boosted its stake 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 valued at $37,000 after buying an additional 509 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Calavo Growers by 145.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,407 shares of the company’s stock worth $52,000 after buying an additional 1,426 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Calavo Growers by 673.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock worth $74,000 after buying an additional 2,416 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens cut their target price on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. Weiss Ratings upgraded Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Finally, Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One equities research 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, the company has a consensus rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Trading Up 0.9%

Shares of Calavo Growers stock traded up $0.22 on Tuesday, reaching $24.31. The company had a trading volume of 83,663 shares, compared to its average volume of 422,146. The firm’s 50 day moving average price is $25.18 and its two-hundred day moving average price is $23.99. The firm has a market cap of $434.47 million, a PE ratio of 27.30 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 debt-to-equity ratio of 0.02, a quick ratio of 1.66 and a current ratio of 2.21.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share 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 firm had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $138.45 million. Sell-side analysts predict that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. Calavo Growers’s payout ratio is presently 89.89%.

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.