Calavo Growers, Inc. $CVGW Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 59.7% during the third quarter, Holdings Channel reports. The firm owned 59,846 shares of the company’s stock after purchasing an additional 22,361 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Calavo Growers were worth $1,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Calavo Growers by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company’s stock worth $240,000 after purchasing an additional 390 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Calavo Growers by 1.1% in the second quarter. Engineers Gate Manager LP now owns 38,354 shares of the company’s stock worth $1,020,000 after buying an additional 422 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Calavo Growers by 2.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,959 shares of the company’s stock worth $797,000 after acquiring an additional 759 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Calavo Growers during the second quarter valued at approximately $30,000. Finally, Intech Investment Management LLC raised its holdings in shares of Calavo Growers by 14.4% during the second quarter. Intech Investment Management LLC now owns 10,756 shares of the company’s stock valued at $286,000 after acquiring an additional 1,357 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVGW. Weiss Ratings lowered shares of Calavo Growers from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Stephens dropped their price target on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Stock Performance

Shares of CVGW opened at $26.84 on Monday. The firm has a market cap of $479.63 million, a price-to-earnings ratio of 24.40 and a beta of 0.38. The company’s fifty day moving average is $24.33 and its 200-day moving average is $24.15. The company has a quick ratio of 1.92, a current ratio of 2.47 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a 12 month low of $18.40 and a 12 month high of $28.72.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings data on Wednesday, January 14th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). The business had revenue of $124.68 million during the quarter, compared to analyst estimates of $147.95 million. Calavo Growers had a net margin of 3.05% and a return on equity of 13.43%. Equities analysts expect that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. Calavo Growers’s dividend payout ratio is currently 72.73%.

Calavo Growers Profile

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.