Calavo Growers (NASDAQ:CVGW) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Calavo Growers, Inc. (NASDAQ:CVGW) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.88 and traded as high as $25.66. Calavo Growers shares last traded at $25.51, with a volume of 223,912 shares changing hands.

Analyst Upgrades and Downgrades

CVGW has been the subject of several research analyst reports. Weiss Ratings upgraded Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Stephens dropped their price target on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. Finally, Wall Street Zen cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.50.

Calavo Growers Stock Up 3.5%

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.21 and a quick ratio of 1.66. The stock’s fifty day simple moving average is $25.49 and its 200-day simple moving average is $23.88. The stock has a market cap of $455.86 million, a P/E ratio of 28.66 and a beta of 0.38.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $122.20 million during the quarter, compared to analyst estimates of $138.45 million. Calavo Growers had a return on equity of 12.81% and a net margin of 2.61%. On average, research analysts anticipate that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s dividend payout ratio is presently 89.89%.

Institutional Investors Weigh In On Calavo Growers

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Calavo Growers by 32.1% in the second quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company’s stock worth $10,284,000 after purchasing an additional 94,073 shares during the period. SG Capital Management LLC acquired a new position in shares of Calavo Growers during the 3rd quarter valued at $13,443,000. Rice Hall James & Associates LLC acquired a new position in shares of Calavo Growers during the 3rd quarter valued at $1,794,000. Envestnet Asset Management Inc. raised its stake in shares of Calavo Growers by 59.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 59,846 shares of the company’s stock worth $1,540,000 after buying an additional 22,361 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Calavo Growers by 703.0% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 106,400 shares of the company’s stock worth $2,739,000 after buying an additional 93,150 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

Calavo Growers Company 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.