Calavo Growers (NASDAQ:CVGW) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Calavo Growers (NASDAQ:CVGW) from a buy rating to a hold rating in a research report released on Thursday morning.

Separately, Lake Street Capital lowered 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 note on Wednesday, January 15th.

Calavo Growers Stock Up 6.1 %

CVGW opened at $26.17 on Thursday. The business has a 50-day moving average of $23.59 and a two-hundred day moving average of $25.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. Calavo Growers has a 12 month low of $20.30 and a 12 month high of $30.58. The stock has a market capitalization of $466.79 million, a price-to-earnings ratio of -436.17 and a beta of 0.41.

Calavo Growers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.80 annualized dividend and a yield of 3.06%. Calavo Growers’s payout ratio is 148.15%.

Insider Buying and Selling at Calavo Growers

In related news, EVP Michael A. Browne bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were acquired at an average cost of $23.69 per share, for a total transaction of $142,140.00. Following the acquisition, the executive vice president now owns 7,500 shares in the company, valued at $177,675. This represents a 400.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James E. Snyder purchased 3,213 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was bought at an average price of $23.33 per share, with a total value of $74,959.29. Following the acquisition, the chief financial officer now owns 5,157 shares in the company, valued at $120,312.81. This trade represents a 165.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 73,438 shares of company stock valued at $1,771,303 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Calavo Growers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVGW. American Century Companies Inc. boosted its position in Calavo Growers by 26.8% in the 4th quarter. American Century Companies Inc. now owns 445,817 shares of the company’s stock valued at $11,368,000 after buying an additional 94,221 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Calavo Growers by 221.1% in the 3rd 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 raised its holdings in shares of Calavo Growers by 104.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,960 shares of the company’s stock worth $3,849,000 after purchasing an additional 77,220 shares during the period. Squarepoint Ops LLC raised 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 period. Finally, Penn Capital Management Company LLC lifted its holdings in shares of Calavo Growers by 54.0% in the 4th quarter. Penn Capital Management Company LLC now owns 168,344 shares of the company’s stock worth $4,293,000 after purchasing an additional 58,995 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Calavo Growers Company Profile

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.