Calavo Growers, Inc. (CVGW) Announces Dividend Increase – $0.95 Per Share
Calavo Growers, Inc. (NASDAQ:CVGW) announced an annual dividend on Thursday, October 5th, Wall Street Journal reports. Shareholders of record on Friday, November 17th will be given a dividend of 0.95 per share on Friday, December 8th. This represents a yield of 1.29%. The ex-dividend date is Thursday, November 16th. This is a boost from Calavo Growers’s previous annual dividend of $0.90.
Shares of Calavo Growers (NASDAQ CVGW) traded down 0.54% during trading on Thursday, hitting $73.85. The stock had a trading volume of 110,225 shares. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 35.68 and a beta of 0.70. Calavo Growers has a 52-week low of $48.75 and a 52-week high of $76.85. The firm’s 50-day moving average is $70.40 and its 200 day moving average is $68.48.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Wednesday, September 6th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. The company had revenue of $301.65 million for the quarter, compared to analyst estimates of $278.66 million. During the same quarter last year, the business earned $0.73 earnings per share. Calavo Growers’s revenue was up 14.6% compared to the same quarter last year. On average, analysts expect that Calavo Growers will post $2.06 EPS for the current year.
A number of analysts recently weighed in on CVGW shares. BidaskClub raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Buckingham Research decreased their price objective on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, August 18th. Finally, Stephens reaffirmed an “overweight” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $79.40.
Calavo Growers Company Profile
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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