Calavo Growers (NASDAQ:CVGW) Posts Earnings Results, Beats Estimates By $0.05 EPS

Calavo Growers (NASDAQ:CVGW) released its quarterly earnings results on Thursday. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05, FiscalAI reports. The firm had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $138.45 million. Calavo Growers had a net margin of 3.05% and a return on equity of 13.43%.

Calavo Growers Trading Down 5.9%

CVGW traded down $1.47 on Friday, reaching $23.52. 305,870 shares of the company traded hands, compared to its average volume of 422,832. The company has a market cap of $420.37 million, a P/E ratio of 21.45 and a beta of 0.38. 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 has a one year low of $18.40 and a one year high of $28.72. The firm has a fifty day simple moving average of $25.09 and a two-hundred day simple moving average of $24.09.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. Calavo Growers’s dividend payout ratio (DPR) is presently 72.73%.

Hedge Funds Weigh In On Calavo Growers

A number of institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in shares of Calavo Growers during the fourth quarter worth approximately $237,000. Numerai GP LLC purchased a new stake in shares of Calavo Growers in the fourth quarter valued at approximately $997,000. Millennium Management LLC grew its stake in Calavo Growers by 23.4% in the fourth quarter. Millennium Management LLC now owns 53,905 shares of the company’s stock worth $1,172,000 after purchasing an additional 10,208 shares in the last quarter. Inspire Investing LLC grew its stake in Calavo Growers by 24.7% in the fourth quarter. Inspire Investing LLC now owns 21,771 shares of the company’s stock worth $474,000 after purchasing an additional 4,315 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Calavo Growers during the 4th quarter worth $367,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVGW has been the subject of several analyst reports. Wall Street Zen downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings raised Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Stephens reduced their price target on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

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.