LSV Asset Management Invests $2.06 Million in Calavo Growers, Inc. $CVGW

LSV Asset Management bought a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 77,525 shares of the company’s stock, valued at approximately $2,061,000.

A number of other institutional investors have also bought and sold shares of the company. Nuance Investments LLC grew its holdings in Calavo Growers by 6.4% during the 1st quarter. Nuance Investments LLC now owns 1,770,251 shares of the company’s stock worth $42,468,000 after acquiring an additional 106,736 shares during the period. Vanguard Group Inc. boosted its position in shares of Calavo Growers by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company’s stock valued at $27,876,000 after purchasing an additional 13,491 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Calavo Growers by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 481,601 shares of the company’s stock valued at $12,807,000 after purchasing an additional 1,683 shares in the last quarter. Old West Investment Management LLC acquired a new stake in Calavo Growers during the second quarter worth approximately $11,364,000. Finally, Goldman Sachs Group Inc. increased its holdings in Calavo Growers by 91.6% in the first quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company’s stock worth $6,608,000 after purchasing an additional 131,674 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

CVGW has been the topic of a number of research analyst reports. Lake Street Capital increased their price target on Calavo Growers from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Stephens upgraded shares of Calavo Growers to a “hold” rating in a research note on Thursday, September 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Calavo Growers in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.00.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW opened at $18.96 on Friday. The company has a quick ratio of 1.86, a current ratio of 2.30 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a twelve month low of $18.54 and a twelve month high of $28.72. The stock’s 50 day moving average is $24.06 and its 200-day moving average is $25.88. The firm has a market capitalization of $338.49 million, a price-to-earnings ratio of 21.55 and a beta of 0.41.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $178.82 million during the quarter, compared to the consensus estimate of $195.20 million. Calavo Growers had a net margin of 2.28% and a return on equity of 11.73%. Calavo Growers’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. Sell-side analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. Calavo Growers’s payout ratio is presently 90.91%.

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.