Wells Fargo & Company MN trimmed its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,355 shares of the company’s stock after selling 10,982 shares during the quarter. Wells Fargo & Company MN owned about 0.79% of Calavo Growers worth $13,462,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Calavo Growers by 11.1% in the second quarter. BlackRock Inc. now owns 2,306,604 shares of the company’s stock worth $221,781,000 after purchasing an additional 231,375 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Calavo Growers by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 658,491 shares of the company’s stock worth $63,314,000 after acquiring an additional 3,162 shares during the period. Bank of New York Mellon Corp grew its holdings in Calavo Growers by 10.3% during the second quarter. Bank of New York Mellon Corp now owns 434,470 shares of the company’s stock worth $41,774,000 after acquiring an additional 40,580 shares during the period. Cortina Asset Management LLC grew its holdings in Calavo Growers by 58.7% during the second quarter. Cortina Asset Management LLC now owns 293,504 shares of the company’s stock worth $28,220,000 after acquiring an additional 108,551 shares during the period. Finally, Northern Trust Corp grew its holdings in Calavo Growers by 1.4% during the second quarter. Northern Trust Corp now owns 238,870 shares of the company’s stock worth $22,968,000 after acquiring an additional 3,340 shares during the period. Hedge funds and other institutional investors own 88.99% of the company’s stock.
Calavo Growers stock opened at $92.26 on Friday. The stock has a market cap of $1.67 billion, a P/E ratio of 34.00 and a beta of 0.47. Calavo Growers, Inc. has a 52 week low of $70.00 and a 52 week high of $108.00.
The business also recently announced an annual dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 16th were issued a dividend of $1.00 per share. This represents a yield of 1%. This is a positive change from Calavo Growers’s previous annual dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 15th. Calavo Growers’s dividend payout ratio (DPR) is 46.95%.
In related 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 transaction of $10,398,689.28. Following the sale, the chairman now directly owns 571,071 shares of the company’s stock, valued at $59,208,641.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Laurence Brown sold 343 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $95.74, for a total value of $32,838.82. Following the sale, the director now directly owns 11,343 shares in the company, valued at $1,085,978.82. The disclosure for this sale can be found here. 8.40% of the stock is owned by company insiders.
Several analysts recently commented on the company. BidaskClub raised Calavo Growers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Zacks Investment Research lowered Calavo Growers from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Finally, Lake Street Capital set a $109.00 target price on Calavo Growers and gave the stock a “buy” rating in a report on Friday, September 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Calavo Growers has a consensus rating of “Hold” and an average price target of $101.50.
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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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