ClariVest Asset Management LLC Sells 7,273 Shares of Calavo Growers Inc. (CVGW)
ClariVest Asset Management LLC lowered its position in shares of Calavo Growers Inc. (NASDAQ:CVGW) by 44.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,200 shares of the company’s stock after selling 7,273 shares during the period. ClariVest Asset Management LLC’s holdings in Calavo Growers were worth $617,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Calavo Growers during the second quarter worth about $175,000. BNP Paribas Arbitrage SA boosted its stake in Calavo Growers by 111.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the company’s stock worth $311,000 after buying an additional 2,446 shares during the period. Capstone Asset Management Co. boosted its stake in Calavo Growers by 13.7% in the second quarter. Capstone Asset Management Co. now owns 6,573 shares of the company’s stock worth $440,000 after buying an additional 790 shares during the period. Louisiana State Employees Retirement System boosted its stake in Calavo Growers by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 6,600 shares of the company’s stock worth $442,000 after buying an additional 100 shares during the period. Finally, LPL Financial LLC boosted its stake in Calavo Growers by 43.8% in the first quarter. LPL Financial LLC now owns 15,730 shares of the company’s stock worth $898,000 after buying an additional 4,792 shares during the period. Institutional investors own 63.25% of the company’s stock.
Calavo Growers Inc. (NASDAQ:CVGW) traded down 0.16% on Friday, reaching $63.45. 87,359 shares of the company traded hands. The firm has a market cap of $1.11 billion, a P/E ratio of 32.86 and a beta of 0.55. Calavo Growers Inc. has a 52-week low of $46.56 and a 52-week high of $71.48. The stock has a 50-day moving average price of $65.20 and a 200-day moving average price of $62.13.
Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Wednesday, September 7th. The company reported $0.73 EPS for the quarter, topping the 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 net margin of 3.75% and a return on equity of 16.80%. Calavo Growers’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. Analysts anticipate that Calavo Growers Inc. will post $2.11 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be issued a dividend of $0.90 per share. This is an increase from Calavo Growers’s previous annual dividend of $0.80. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a dividend yield of 1.36%. Calavo Growers’s payout ratio is presently 41.24%.
Several research firms recently weighed in on CVGW. DA Davidson set a $65.00 target price on shares of Calavo Growers and gave the company a “hold” rating in a research note on Sunday, August 28th. Zacks Investment Research cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Stephens cut shares of Calavo Growers from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 9th. Lake Street Capital increased their target price on shares of Calavo Growers from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, September 8th. Finally, Wunderlich began coverage on shares of Calavo Growers in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 target price for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.94.
In related news, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $68.86, for a total transaction of $68,860.00. Following the completion of the sale, the director now owns 9,250 shares of the company’s stock, valued at approximately $636,955. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Hunt sold 14,250 shares of Calavo Growers stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $68.72, for a total transaction of $979,260.00. Following the sale, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $2,611,360. The disclosure for this sale can be found here. Corporate insiders own 10.20% 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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