Calavo Growers Inc. (CVGW) Director Sells $68,860.00 in Stock
Calavo Growers Inc. (NASDAQ:CVGW) Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $68.86, for a total transaction of $68,860.00. Following the completion of the sale, the director now owns 9,250 shares in the company, valued at $636,955. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Calavo Growers Inc. (NASDAQ:CVGW) opened at 68.07 on Wednesday. The company’s 50-day moving average is $63.55 and its 200-day moving average is $60.86. The firm has a market capitalization of $1.19 billion, a P/E ratio of 35.25 and a beta of 0.51. Calavo Growers Inc. has a one year low of $43.08 and a one year high of $71.48.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. The firm had revenue of $263.15 million for the quarter, compared to analysts’ expectations of $243.80 million. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Equities analysts forecast that Calavo Growers Inc. will post $2.11 earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on CVGW. Zacks Investment Research upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Lake Street Capital lifted their price objective on shares of Calavo Growers from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, September 8th. DA Davidson lifted their price objective on shares of Calavo Growers from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Wunderlich began coverage on shares of Calavo Growers in a report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Stephens downgraded shares of Calavo Growers from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $65.69.
Institutional investors have recently bought and sold shares of the company. Ranger Investment Management L.P. boosted its position in Calavo Growers by 22.2% in the second quarter. Ranger Investment Management L.P. now owns 508,582 shares of the company’s stock worth $34,075,000 after buying an additional 92,542 shares during the last quarter. Harvest Capital Strategies LLC boosted its position in Calavo Growers by 56.2% in the first quarter. Harvest Capital Strategies LLC now owns 78,101 shares of the company’s stock worth $4,456,000 after buying an additional 28,101 shares during the last quarter. Vanguard Group Inc. boosted its position in Calavo Growers by 3.9% in the second quarter. Vanguard Group Inc. now owns 731,493 shares of the company’s stock worth $49,010,000 after buying an additional 27,146 shares during the last quarter. Pioneer Investment Management Inc. acquired a new position in Calavo Growers during the fourth quarter worth about $1,138,000. Finally, Dimensional Fund Advisors LP boosted its position in Calavo Growers by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 598,152 shares of the company’s stock worth $40,076,000 after buying an additional 21,494 shares during the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.
About Calavo Growers
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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