State of New Jersey Common Pension Fund D cut its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 520,000 shares of the company’s stock after selling 50,000 shares during the period. State of New Jersey Common Pension Fund D owned about 2.97% of Calavo Growers worth $35,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Calavo Growers by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 1,690 shares of the company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Calavo Growers by 54.7% in the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock worth $126,000 after buying an additional 734 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Calavo Growers by 7.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,169 shares of the company’s stock worth $131,000 after buying an additional 142 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Calavo Growers during the first quarter worth about $150,000. Finally, Bank of Montreal Can increased its position in shares of Calavo Growers by 33.9% in the first quarter. Bank of Montreal Can now owns 2,957 shares of the company’s stock worth $179,000 after buying an additional 748 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Shares of Calavo Growers, Inc. (NASDAQ CVGW) opened at 73.85 on Friday. The firm’s 50-day moving average is $70.72 and its 200-day moving average is $63.97. The firm has a market cap of $1.29 billion, a PE ratio of 32.12 and a beta of 0.62. Calavo Growers, Inc. has a 12-month low of $48.75 and a 12-month high of $76.85.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. The business had revenue of $270.20 million for the quarter, compared to analyst estimates of $259.79 million. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. Equities analysts expect that Calavo Growers, Inc. will post $2.45 earnings per share for the current fiscal year.

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A number of analysts have weighed in on CVGW shares. BidaskClub raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Zacks Investment Research raised shares of Calavo Growers from a “strong sell” rating to a “hold” rating in a report on Monday, May 15th. Finally, Stephens reissued an “overweight” rating and set a $85.00 price objective (up previously from $75.00) on shares of Calavo Growers in a report on Friday, June 9th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Calavo Growers currently has a consensus rating of “Buy” and a consensus price target of $78.75.

In related news, Director Kathleen M. Holmgren bought 1,000 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were purchased at an average cost of $68.00 per share, with a total value of $68,000.00. Following the completion of the transaction, the director now directly owns 2,750 shares of the company’s stock, valued at $187,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Laurence Brown sold 750 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.10, for a total value of $56,325.00. Following the completion of the sale, the director now directly owns 10,100 shares in the company, valued at $758,510. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Calavo Growers Company Profile

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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