Marc Laurence Brown Sells 1,000 Shares of Calavo Growers Inc. (CVGW) Stock
Calavo Growers Inc. (NASDAQ:CVGW) Director Marc Laurence Brown sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $68.86, for a total value of $68,860.00. Following the sale, the director now directly owns 9,250 shares in the company, valued at $636,955. The transaction was disclosed in a filing with the SEC, which is available at this link.
Calavo Growers Inc. (NASDAQ:CVGW) opened at 67.79 on Friday. Calavo Growers Inc. has a 52 week low of $43.08 and a 52 week high of $71.48. The company has a market cap of $1.18 billion, a PE ratio of 35.11 and a beta of 0.51. The company’s 50-day moving average price is $63.67 and its 200 day moving average price is $60.96.
Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The business earned $263.15 million during the quarter, compared to the consensus estimate of $243.80 million. Calavo Growers had a return on equity of 16.80% and a net margin of 3.75%. Calavo Growers’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. On average, analysts anticipate that Calavo Growers Inc. will post $2.11 EPS for the current year.
CVGW has been the topic of several research reports. Lake Street Capital upped their price target on Calavo Growers from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Wunderlich started coverage on Calavo Growers in a research note on Wednesday, June 22nd. They set a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, June 7th. Stephens downgraded Calavo Growers from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 9th. Finally, DA Davidson set a $65.00 price objective on Calavo Growers and gave the stock a “hold” rating in a research note on Sunday, August 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $65.69.
Several institutional investors have recently bought and sold shares of the company. Barclays PLC increased its position in Calavo Growers by 48.4% in the second quarter. Barclays PLC now owns 1,800 shares of the company’s stock valued at $121,000 after buying an additional 587 shares during the period. PineBridge Investments L.P. increased its position in Calavo Growers by 6.3% in the second quarter. PineBridge Investments L.P. now owns 1,879 shares of the company’s stock valued at $126,000 after buying an additional 111 shares during the period. Teacher Retirement System of Texas increased its position in Calavo Growers by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,059 shares of the company’s stock valued at $138,000 after buying an additional 252 shares during the period. Cubist Systematic Strategies LLC increased its position in Calavo Growers by 1,032.0% in the second quarter. Cubist Systematic Strategies LLC now owns 2,264 shares of the company’s stock valued at $152,000 after buying an additional 2,064 shares during the period. Finally, Bank of Montreal Can bought a new position in Calavo Growers during the second quarter valued at approximately $175,000. Institutional investors and hedge funds own 63.25% of the company’s stock.
Calavo Growers Company Profile
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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