SG Capital Management LLC Makes New $13.44 Million Investment in Calavo Growers, Inc. $CVGW

SG Capital Management LLC acquired a new stake in Calavo Growers, Inc. (NASDAQ:CVGW) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 522,247 shares of the company’s stock, valued at approximately $13,443,000. Calavo Growers makes up about 1.2% of SG Capital Management LLC’s holdings, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVGW. Vanguard Group Inc. increased its position in Calavo Growers by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,265,417 shares of the company’s stock worth $32,572,000 after purchasing an additional 11,979 shares during the period. Geode Capital Management LLC boosted its stake in shares of Calavo Growers by 0.4% in 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 during the last quarter. Old West Investment Management LLC boosted its stake in shares of Calavo Growers by 1.8% in the 3rd quarter. Old West Investment Management LLC now owns 434,966 shares of the company’s stock valued at $11,196,000 after purchasing an additional 7,587 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Calavo Growers by 32.1% during the second quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company’s stock worth $10,284,000 after buying an additional 94,073 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Calavo Growers by 27.6% in the second quarter. Gamco Investors INC. ET AL now owns 341,700 shares of the company’s stock valued at $9,086,000 after buying an additional 74,000 shares during the period. Institutional investors own 81.30% of the company’s stock.

Calavo Growers Price Performance

Shares of CVGW stock opened at $26.56 on Thursday. The company has a quick ratio of 1.92, a current ratio of 2.47 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a 12-month low of $18.40 and a 12-month high of $28.72. The firm has a fifty day moving average of $23.66 and a 200-day moving average of $24.20. The firm has a market capitalization of $474.63 million, a price-to-earnings ratio of 24.15 and a beta of 0.40.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Wednesday, January 14th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). Calavo Growers had a return on equity of 13.43% and a net margin of 3.05%.The business had revenue of $124.68 million for the quarter, compared to the consensus estimate of $147.95 million. On average, equities research analysts forecast that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were given a $0.20 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. Calavo Growers’s payout ratio is currently 72.73%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVGW shares. Stephens lowered their target price on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Calavo Growers in a report on Monday, December 29th. Finally, Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Calavo Growers has a consensus rating of “Hold” and an average target price of $33.50.

Calavo Growers Profile

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.