Gabelli Funds LLC Purchases 89,646 Shares of Calavo Growers, Inc. $CVGW

Gabelli Funds LLC lifted its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 454.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,360 shares of the company’s stock after purchasing an additional 89,646 shares during the quarter. Gabelli Funds LLC owned 0.61% of Calavo Growers worth $2,815,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Calavo Growers by 673.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock valued at $74,000 after purchasing an additional 2,416 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Calavo Growers by 224.8% in the 2nd quarter. Lazard Asset Management LLC now owns 7,468 shares of the company’s stock worth $198,000 after buying an additional 5,169 shares during the last quarter. Olympiad Research LP bought a new stake in shares of Calavo Growers in the 3rd quarter worth about $232,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Calavo Growers by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock valued at $240,000 after buying an additional 390 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Calavo Growers by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,956 shares of the company’s stock valued at $282,000 after acquiring an additional 716 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings upgraded Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Stephens decreased their price objective on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Price Performance

Calavo Growers stock opened at $25.34 on Wednesday. Calavo Growers, Inc. has a 12-month low of $18.40 and a 12-month 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 firm has a 50-day moving average price of $24.96 and a 200-day moving average price of $24.07. The firm has a market capitalization of $452.83 million, a PE ratio of 23.04 and a beta of 0.38.

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

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, January 13th. Calavo Growers’s dividend payout ratio (DPR) is currently 72.73%.

Calavo Growers Company 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.