Calavo Growers, Inc. (CVGW) Position Maintained by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System held its stake in Calavo Growers, Inc. (NASDAQ:CVGW) during the second quarter, Holdings Channel reports. The fund owned 6,300 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Calavo Growers were worth $435,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CVGW. BlackRock Inc. increased its stake in Calavo Growers by 2,685.6% in the first quarter. BlackRock Inc. now owns 1,917,023 shares of the company’s stock valued at $116,172,000 after buying an additional 1,848,205 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Calavo Growers by 27.5% in the first quarter. Neuberger Berman Group LLC now owns 1,585,982 shares of the company’s stock valued at $96,111,000 after buying an additional 342,194 shares during the last quarter. Vanguard Group Inc. increased its stake in Calavo Growers by 5.0% in the first quarter. Vanguard Group Inc. now owns 841,649 shares of the company’s stock valued at $51,004,000 after buying an additional 39,812 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in Calavo Growers by 23.8% in the first quarter. Stephens Investment Management Group LLC now owns 747,701 shares of the company’s stock valued at $45,311,000 after buying an additional 143,501 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Calavo Growers by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 620,909 shares of the company’s stock valued at $37,627,000 after buying an additional 3,291 shares during the last quarter. Hedge funds and other institutional investors own 83.26% of the company’s stock.
Shares of Calavo Growers, Inc. (CVGW) traded up 1.18% during trading on Friday, reaching $72.90. 65,277 shares of the company’s stock were exchanged. The company has a market capitalization of $1.28 billion, a P/E ratio of 31.71 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. The stock has a 50-day moving average price of $71.13 and a 200 day moving average price of $64.72.
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 analysts’ consensus estimates of $0.66 by $0.08. The company 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%. Calavo Growers’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. Equities analysts expect that Calavo Growers, Inc. will post $2.39 EPS for the current fiscal year.
CVGW has been the subject of several recent research reports. Zacks Investment Research upgraded Calavo Growers from a “strong sell” rating to a “hold” rating in a report on Monday, May 15th. BidaskClub downgraded Calavo Growers from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Stephens reiterated an “overweight” rating and issued a $85.00 target price (up from $75.00) on shares of Calavo Growers in a report on Friday, June 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $78.75.
In other Calavo Growers news, Director Marc Laurence Brown sold 750 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $75.10, for a total value of $56,325.00. Following the sale, the director now owns 10,100 shares of the company’s stock, valued at approximately $758,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen M. Holmgren purchased 1,000 shares of Calavo Growers stock in a transaction on Thursday, July 6th. The stock was bought at an average cost of $68.00 per share, for a total transaction of $68,000.00. Following the transaction, the director now directly owns 2,750 shares in the company, valued at $187,000. The disclosure for this purchase can be found here. 9.90% of the stock is owned by company insiders.
About Calavo Growers
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).
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