Calavo Growers, Inc. (CVGW) Receives Average Rating of “Hold” from Brokerages

Calavo Growers, Inc. (NASDAQ:CVGW) has received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $102.33.

Several research analysts have recently weighed in on CVGW shares. BidaskClub raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Zacks Investment Research raised Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Buckingham Research lowered Calavo Growers from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Tuesday, September 4th. They noted that the move was a valuation call. Finally, Lake Street Capital set a $109.00 target price on Calavo Growers and gave the company a “buy” rating in a research note on Friday, September 7th.

CVGW stock opened at $92.26 on Friday. Calavo Growers has a 1-year low of $70.00 and a 1-year high of $108.00. The stock has a market capitalization of $1.69 billion, a PE ratio of 43.31 and a beta of 0.47.

The company also recently announced an annual dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 16th were paid a $1.00 dividend. The ex-dividend date was Thursday, November 15th. This is an increase from Calavo Growers’s previous annual dividend of $0.95. This represents a dividend yield of 1%. Calavo Growers’s dividend payout ratio (DPR) is currently 46.95%.

In other news, Chairman Lecil E. Cole sold 100,296 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $103.68, for a total value of $10,398,689.28. Following the completion of the sale, the chairman now directly owns 571,071 shares in the company, valued at approximately $59,208,641.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marc Laurence Brown sold 343 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $95.74, for a total value of $32,838.82. Following the completion of the sale, the director now owns 11,343 shares of the company’s stock, valued at $1,085,978.82. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in Calavo Growers by 25.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,408 shares of the company’s stock valued at $328,000 after purchasing an additional 694 shares during the last quarter. Rhumbline Advisers boosted its stake in Calavo Growers by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 38,112 shares of the company’s stock valued at $3,664,000 after purchasing an additional 703 shares during the last quarter. AQR Capital Management LLC boosted its stake in Calavo Growers by 12.4% during the 3rd quarter. AQR Capital Management LLC now owns 6,660 shares of the company’s stock valued at $643,000 after purchasing an additional 734 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Calavo Growers by 10.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 8,223 shares of the company’s stock valued at $791,000 after purchasing an additional 781 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Calavo Growers by 797.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,149 shares of the company’s stock valued at $111,000 after purchasing an additional 1,021 shares during the last quarter. Institutional investors own 88.99% of the company’s stock.

About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.

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