Insider Buying: Calavo Growers, Inc. (NASDAQ:CVGW) EVP Buys 5,000 Shares of Stock

Calavo Growers, Inc. (NASDAQ:CVGW) EVP Michael A. Browne purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average cost of $23.12 per share, with a total value of $115,600.00. Following the completion of the acquisition, the executive vice president now owns 6,400 shares of the company’s stock, valued at approximately $147,968. This trade represents a 357.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Calavo Growers Price Performance

NASDAQ:CVGW traded down $0.15 during trading hours on Thursday, hitting $22.74. The company’s stock had a trading volume of 159,685 shares, compared to its average volume of 208,758. The company has a market capitalization of $405.61 million, a PE ratio of -379.00 and a beta of 0.41. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The business’s 50-day moving average is $23.30 and its two-hundred day moving average is $25.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17.

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

Calavo Growers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.52%. Calavo Growers’s payout ratio is 148.15%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Tuesday. Lake Street Capital reduced their price objective on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Institutional Investors Weigh In On Calavo Growers

A number of large investors have recently bought and sold shares of CVGW. Jane Street Group LLC boosted its stake in Calavo Growers by 215.5% in the 3rd quarter. Jane Street Group LLC now owns 262,626 shares of the company’s stock worth $7,493,000 after buying an additional 179,395 shares during the last quarter. American Century Companies Inc. raised its position in shares of Calavo Growers by 26.8% in the 4th quarter. American Century Companies Inc. now owns 445,817 shares of the company’s stock worth $11,368,000 after buying an additional 94,221 shares during the period. JPMorgan Chase & Co. boosted its holdings in Calavo Growers by 221.1% in the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock valued at $3,533,000 after acquiring an additional 85,272 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Calavo Growers by 104.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,960 shares of the company’s stock valued at $3,849,000 after acquiring an additional 77,220 shares during the period. Finally, Squarepoint Ops LLC increased its stake in Calavo Growers by 363.0% during the fourth quarter. Squarepoint Ops LLC now owns 78,538 shares of the company’s stock worth $2,003,000 after acquiring an additional 61,574 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.