Insider Buying: Calavo Growers, Inc. (NASDAQ:CVGW) CFO Purchases 3,213 Shares of Stock

Calavo Growers, Inc. (NASDAQ:CVGW) CFO James E. Snyder bought 3,213 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 5,157 shares in the company, valued at $120,312.81. This represents a 165.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Calavo Growers Price Performance

NASDAQ:CVGW opened at $22.74 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $23.30 and its 200 day moving average price is $25.34. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The firm has a market cap of $405.61 million, a P/E ratio of -379.00 and a beta of 0.41.

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

Calavo Growers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.52%. Calavo Growers’s dividend payout ratio is currently 148.15%.

Institutional Investors Weigh In On Calavo Growers

A number of institutional investors and hedge funds have recently modified their holdings of CVGW. R Squared Ltd acquired a new stake in shares of Calavo Growers during the fourth quarter worth $26,000. Van ECK Associates Corp boosted its position in shares of Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock valued at $65,000 after purchasing an additional 1,039 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Calavo Growers in the 4th quarter worth about $76,000. Aquatic Capital Management LLC acquired a new position in shares of Calavo Growers in the fourth quarter worth about $86,000. Finally, State of Wyoming purchased a new position in shares of Calavo Growers in the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVGW shares. Lake Street Capital reduced their price target 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. StockNews.com downgraded Calavo Growers from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.