Stephens Investment Management Group LLC boosted its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 687,761 shares of the company’s stock after purchasing an additional 3,169 shares during the quarter. Calavo Growers comprises approximately 1.3% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 14th largest holding. Stephens Investment Management Group LLC owned about 3.91% of Calavo Growers worth $66,534,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in Calavo Growers by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,056 shares of the company’s stock valued at $508,000 after purchasing an additional 109 shares during the period. White Pine Capital LLC lifted its stake in Calavo Growers by 0.7% during the 1st quarter. White Pine Capital LLC now owns 15,730 shares of the company’s stock valued at $1,319,000 after acquiring an additional 115 shares in the last quarter. Legal & General Group Plc lifted its stake in Calavo Growers by 0.3% during the 4th quarter. Legal & General Group Plc now owns 37,095 shares of the company’s stock valued at $2,708,000 after acquiring an additional 127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Calavo Growers by 16.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,127 shares of the company’s stock valued at $94,000 after acquiring an additional 158 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its stake in Calavo Growers by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 5,021 shares of the company’s stock valued at $421,000 after acquiring an additional 165 shares in the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.
CVGW has been the topic of several recent analyst reports. Lake Street Capital raised their price objective on Calavo Growers from $94.00 to $104.00 in a research note on Friday, June 7th. BidaskClub upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Zacks Investment Research upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, June 4th. Finally, ValuEngine upgraded Calavo Growers from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.80.
In other news, Chairman Lecil E. Cole sold 15,909 shares of Calavo Growers stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $94.50, for a total transaction of $1,503,400.50. Following the sale, the chairman now directly owns 362,358 shares in the company, valued at approximately $34,242,831. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Der Kar Scott Van sold 525 shares of Calavo Growers stock in a transaction on Friday, July 12th. The stock was sold at an average price of $95.43, for a total value of $50,100.75. Following the sale, the director now owns 1,750 shares in the company, valued at $167,002.50. The disclosure for this sale can be found here. Insiders have sold a total of 129,290 shares of company stock worth $12,459,804 over the last quarter. Company insiders own 7.30% of the company’s stock.
NASDAQ:CVGW traded down $0.12 during trading hours on Thursday, hitting $89.00. 6,935 shares of the company traded hands, compared to its average volume of 152,451. The firm has a market cap of $1.59 billion, a P/E ratio of 35.50 and a beta of 1.03. Calavo Growers, Inc. has a one year low of $67.52 and a one year high of $108.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.94 and a current ratio of 1.39. The business’s 50-day simple moving average is $92.27.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Thursday, June 6th. The company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.15. The company had revenue of $286.00 million for the quarter, compared to analysts’ expectations of $281.37 million. Calavo Growers had a return on equity of 17.76% and a net margin of 2.84%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, analysts forecast that Calavo Growers, Inc. will post 3.35 earnings per share for the current fiscal year.
Calavo Growers Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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