Short Interest in Calavo Growers, Inc. (NASDAQ:CVGW) Expands By 36.3%

Calavo Growers, Inc. (NASDAQ:CVGW) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 720,472 shares, an increase of 36.3% from the December 31st total of 528,771 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 489,985 shares, the short-interest ratio is presently 1.5 days. Based on an average trading volume of 489,985 shares, the short-interest ratio is presently 1.5 days. Approximately 4.3% of the shares of the stock are short sold.

Calavo Growers Trading Up 1.6%

Shares of NASDAQ CVGW traded up $0.40 on Friday, reaching $25.44. 331,481 shares of the company traded hands, compared to its average volume of 685,074. The stock has a market capitalization of $454.61 million, a PE ratio of 23.13 and a beta of 0.37. Calavo Growers has a fifty-two week low of $18.40 and a fifty-two week high of $28.72. The company has a current ratio of 2.47, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $22.28 and a 200 day moving average of $24.28.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Wednesday, January 14th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). The company had revenue of $124.68 million during the quarter, compared to analysts’ expectations of $147.95 million. Calavo Growers had a net margin of 3.05% and a return on equity of 13.43%. On average, equities research analysts forecast 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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s dividend payout ratio is presently 72.73%.

Analyst Ratings Changes

CVGW has been the subject of a number of recent research reports. Stephens dropped their price objective on shares of 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. Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Calavo Growers in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.50.

Institutional Investors Weigh In On Calavo Growers

A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Calavo Growers by 237.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 21,588 shares of the company’s stock valued at $574,000 after acquiring an additional 15,191 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Calavo Growers by 32.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company’s stock valued at $10,284,000 after purchasing an additional 94,073 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in Calavo Growers in the third quarter valued at about $1,794,000. Pinnacle Associates Ltd. lifted its stake in shares of Calavo Growers by 91.0% during the second quarter. Pinnacle Associates Ltd. now owns 40,351 shares of the company’s stock worth $1,073,000 after purchasing an additional 19,226 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Calavo Growers in the second quarter worth about $803,000. Hedge funds and other institutional investors 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.