CIBC World Markets Inc. reduced its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,075 shares of the company’s stock after selling 500 shares during the period. CIBC World Markets Inc.’s holdings in Calavo Growers were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Calavo Growers by 2,685.6% in the 1st 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 period. Vanguard Group Inc. raised its holdings in Calavo Growers by 5.0% in the 1st 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 period. Stephens Investment Management Group LLC raised its holdings in Calavo Growers by 23.8% in the 1st 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 period. Dimensional Fund Advisors LP raised its holdings in Calavo Growers by 0.5% in the 1st 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 period. Finally, Riverbridge Partners LLC raised its holdings in Calavo Growers by 59.9% in the 2nd quarter. Riverbridge Partners LLC now owns 559,857 shares of the company’s stock valued at $38,658,000 after buying an additional 209,708 shares during the period. Hedge funds and other institutional investors own 86.93% of the company’s stock.

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In related news, Director Kathleen M. Holmgren bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were acquired at an average cost of $68.00 per share, for a total transaction of $68,000.00. Following the acquisition, the director now owns 2,750 shares in the company, valued at approximately $187,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.90% of the company’s stock.

Several brokerages recently issued reports on CVGW. Stephens restated an “overweight” rating and issued a $85.00 price objective (up from $75.00) on shares of Calavo Growers in a report on Friday, June 9th. BidaskClub raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Zacks Investment Research downgraded Calavo Growers from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Buckingham Research dropped their target price on Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, August 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $79.40.

Calavo Growers, Inc. (NASDAQ:CVGW) opened at 70.20 on Friday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 33.91 and a beta of 0.66. The stock’s 50 day moving average price is $70.70 and its 200-day moving average price is $67.33. Calavo Growers, Inc. has a 12 month low of $48.75 and a 12 month high of $76.85.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Wednesday, September 6th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $301.65 million for the quarter, compared to the consensus estimate of $278.66 million. Calavo Growers had a return on equity of 16.07% and a net margin of 3.46%. The company’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the business posted $0.73 EPS. On average, analysts forecast that Calavo Growers, Inc. will post $2.06 earnings per share for the current year.

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).

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

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