Insider Selling: Calavo Growers, Inc. (CVGW) Director Sells 1,000 Shares of Stock

Calavo Growers, Inc. (NASDAQ:CVGW) Director Marc Laurence Brown sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $85.05, for a total value of $85,050.00. Following the completion of the sale, the director now owns 9,600 shares in the company, valued at $816,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Calavo Growers, Inc. (NASDAQ:CVGW) traded down $0.80 during mid-day trading on Thursday, reaching $85.10. The company’s stock had a trading volume of 200,000 shares, compared to its average volume of 207,050. Calavo Growers, Inc. has a fifty-two week low of $48.75 and a fifty-two week high of $87.05. The stock has a market capitalization of $1,506.10, a P/E ratio of 39.95 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Tuesday, December 19th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. Calavo Growers had a return on equity of 16.01% and a net margin of 3.47%. The business had revenue of $277.20 million for the quarter, compared to the consensus estimate of $297.40 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. research analysts expect that Calavo Growers, Inc. will post 2.82 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of CVGW. Schwab Charles Investment Management Inc. raised its position in Calavo Growers by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 73,786 shares of the company’s stock valued at $5,095,000 after purchasing an additional 2,853 shares during the period. Arizona State Retirement System raised its position in Calavo Growers by 1.3% during the second quarter. Arizona State Retirement System now owns 8,063 shares of the company’s stock valued at $557,000 after purchasing an additional 100 shares during the period. Rhumbline Advisers raised its position in Calavo Growers by 0.4% during the second quarter. Rhumbline Advisers now owns 29,938 shares of the company’s stock valued at $2,067,000 after purchasing an additional 106 shares during the period. SG Americas Securities LLC purchased a new stake in Calavo Growers during the second quarter valued at approximately $128,000. Finally, Legal & General Group Plc raised its position in Calavo Growers by 9.5% during the second quarter. Legal & General Group Plc now owns 27,904 shares of the company’s stock valued at $1,927,000 after purchasing an additional 2,416 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

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

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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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