Kenneth J. Catchot Sells 35,647 Shares of Calavo Growers Inc. (CVGW) Stock
Calavo Growers Inc. (NASDAQ:CVGW) insider Kenneth J. Catchot sold 35,647 shares of Calavo Growers stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $69.42, for a total value of $2,474,614.74. Following the sale, the insider now directly owns 441,472 shares of the company’s stock, valued at approximately $30,646,986.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Calavo Growers Inc. (NASDAQ:CVGW) opened at 68.07 on Wednesday. The stock has a market cap of $1.19 billion, a P/E ratio of 35.25 and a beta of 0.51. Calavo Growers Inc. has a 12-month low of $43.08 and a 12-month high of $71.48. The stock has a 50 day moving average price of $63.55 and a 200 day moving average price of $60.86.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.59 by $0.14. The firm earned $263.15 million during the quarter, compared to analyst estimates of $243.80 million. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. Calavo Growers’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. On average, analysts forecast that Calavo Growers Inc. will post $2.11 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on CVGW shares. DA Davidson lifted their price objective on Calavo Growers from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 8th. Zacks Investment Research raised Calavo Growers from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Stephens lowered Calavo Growers from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 9th. Lake Street Capital raised their price target on Calavo Growers from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Finally, Wunderlich initiated coverage on Calavo Growers in a research report on Wednesday, June 22nd. They set a “buy” rating and a $75.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Calavo Growers currently has a consensus rating of “Buy” and a consensus price target of $65.69.
Several large investors have recently bought and sold shares of CVGW. Ranger Investment Management L.P. raised its stake 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 valued at $34,075,000 after buying an additional 92,542 shares during the period. Harvest Capital Strategies LLC increased its position in shares of Calavo Growers by 56.2% in the first quarter. Harvest Capital Strategies LLC now owns 78,101 shares of the company’s stock valued at $4,456,000 after buying an additional 28,101 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Calavo Growers by 3.9% in the second quarter. Vanguard Group Inc. now owns 731,493 shares of the company’s stock valued at $49,010,000 after buying an additional 27,146 shares in the last quarter. Pioneer Investment Management Inc. purchased a new position in shares of Calavo Growers during the fourth quarter valued at $1,138,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Calavo Growers by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 598,152 shares of the company’s stock valued at $40,076,000 after buying an additional 21,494 shares in the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.
Calavo Growers Company Profile
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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