Calavo Growers Inc. (NASDAQ:CVGW) insider Kenneth J. Catchot sold 35,647 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $69.42, for a total value of $2,474,614.74. Following the completion of the sale, the insider now owns 441,472 shares of the company’s stock, valued at $30,646,986.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Calavo Growers Inc. (NASDAQ:CVGW) opened at 67.23 on Monday. The company has a market capitalization of $1.17 billion, a P/E ratio of 34.82 and a beta of 0.51. Calavo Growers Inc. has a 52-week low of $43.08 and a 52-week high of $71.48. The stock’s 50 day moving average price is $63.72 and its 200 day moving average price is $61.09.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. The firm earned $263.15 million during the quarter, compared to analysts’ expectations of $243.80 million. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities research analysts forecast that Calavo Growers Inc. will post $2.11 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of Calavo Growers during the second quarter valued at approximately $175,000. Eagle Asset Management Inc. boosted its stake in shares of Calavo Growers by 12.6% in the second quarter. Eagle Asset Management Inc. now owns 32,727 shares of the company’s stock valued at $2,192,000 after buying an additional 3,658 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Calavo Growers by 13.7% in the second quarter. Capstone Asset Management Co. now owns 6,573 shares of the company’s stock valued at $440,000 after buying an additional 790 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Calavo Growers by 111.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the company’s stock valued at $311,000 after buying an additional 2,446 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Calavo Growers by 4.1% in the first quarter. Arizona State Retirement System now owns 7,563 shares of the company’s stock valued at $432,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.
A number of analysts recently issued reports on CVGW shares. Stephens raised their price target on Calavo Growers from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, August 25th. Wunderlich started coverage on Calavo Growers in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price target for the company. Zacks Investment Research upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. Lake Street Capital raised their price target on Calavo Growers from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, DA Davidson raised their price target on Calavo Growers from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.69.
Calavo Growers Company Profile
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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