Calavo Growers (CVGW) Reaches New 1-Year High at $89.90

Calavo Growers, Inc. (NASDAQ:CVGW)’s share price hit a new 52-week high on Wednesday . The company traded as high as $89.90 and last traded at $88.15, with a volume of 308700 shares trading hands. The stock had previously closed at $88.50.

A number of brokerages have weighed in on CVGW. Stephens lifted their price target on shares of Calavo Growers from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $91.00 price target (up previously from $76.00) on shares of Calavo Growers in a report on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Calavo Growers has a consensus rating of “Buy” and an average price target of $88.00.

The stock has a market capitalization of $1,551.69, a price-to-earnings ratio of 41.97 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Tuesday, December 19th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. The company had revenue of $277.20 million for the quarter, compared to analyst estimates of $297.40 million. Calavo Growers had a net margin of 3.47% and a return on equity of 16.01%. Calavo Growers’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. analysts predict that Calavo Growers, Inc. will post 2.86 earnings per share for the current year.

In related news, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $85.05, for a total transaction of $85,050.00. Following the transaction, the director now owns 9,600 shares in the company, valued at approximately $816,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James E. Gibson sold 10,000 shares of Calavo Growers stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the transaction, the insider now owns 61,991 shares in the company, valued at approximately $4,905,967.74. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its holdings in shares of Calavo Growers by 561.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock valued at $122,000 after acquiring an additional 1,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Calavo Growers during the 2nd quarter valued at $128,000. Pinebridge Investments L.P. lifted its holdings in shares of Calavo Growers by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock valued at $140,000 after acquiring an additional 29 shares in the last quarter. Aviance Capital Management LLC acquired a new position in shares of Calavo Growers during the 2nd quarter valued at $153,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Calavo Growers by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,444 shares of the company’s stock valued at $169,000 after acquiring an additional 367 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

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About Calavo Growers

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

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