Dimensional Fund Advisors LP increased its position in shares of Calavo Growers Inc. (NASDAQ:CVGW) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 598,152 shares of the company’s stock after buying an additional 21,494 shares during the period. Dimensional Fund Advisors LP owned about 3.43% of Calavo Growers worth $40,076,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVGW. Teacher Retirement System of Texas increased its position in Calavo Growers by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,059 shares of the company’s stock worth $138,000 after buying an additional 252 shares during the last quarter. Bank of Montreal Can bought a new position in Calavo Growers during the second quarter worth about $175,000. BNP Paribas Arbitrage SA increased its position in Calavo Growers by 111.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the company’s stock worth $311,000 after buying an additional 2,446 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Calavo Growers during the second quarter worth about $335,000. Finally, Suntrust Banks Inc. increased its position in Calavo Growers by 2.2% in the second quarter. Suntrust Banks Inc. now owns 6,167 shares of the company’s stock worth $413,000 after buying an additional 135 shares during the last quarter. Institutional investors own 63.24% of the company’s stock.
Calavo Growers Inc. (NASDAQ:CVGW) opened at 63.45 on Monday. The firm has a market cap of $1.11 billion, a P/E ratio of 32.86 and a beta of 0.54. The firm’s 50-day moving average is $65.20 and its 200 day moving average is $62.13. Calavo Growers Inc. has a 12-month low of $46.56 and a 12-month high of $71.48.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.59 by $0.14. The firm had revenue of $263.15 million for the quarter, compared to the consensus estimate of $243.80 million. Calavo Growers had a net margin of 3.75% and a return on equity of 16.80%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Equities analysts forecast that Calavo Growers Inc. will post $2.11 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be issued a $0.90 dividend. This is a boost from Calavo Growers’s previous annual dividend of $0.80. The ex-dividend date is Tuesday, November 15th. This represents a dividend yield of 1.36%. Calavo Growers’s dividend payout ratio (DPR) is currently 41.24%.
CVGW has been the topic of a number of research reports. Lake Street Capital boosted their target price on shares of Calavo Growers from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Zacks Investment Research upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Tuesday, October 4th. Wunderlich started coverage on shares of Calavo Growers in a report on Wednesday, June 22nd. They set a “buy” rating and a $75.00 price objective on the stock. Stephens downgraded shares of Calavo Growers from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 9th. Finally, DA Davidson set a $65.00 price objective on shares of Calavo Growers and gave the stock a “hold” rating in a report on Sunday, August 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.94.
In other news, Director John M. Hunt sold 14,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $68.72, for a total value of $979,260.00. Following the transaction, the director now owns 38,000 shares in the company, valued at $2,611,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth J. Catchot sold 35,647 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $69.42, for a total transaction of $2,474,614.74. Following the completion of the transaction, the insider now owns 441,472 shares in the company, valued at approximately $30,646,986.24. The disclosure for this sale can be found here. 10.20% of the stock is currently owned by insiders.
About Calavo Growers
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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