Calavo Growers, Inc. (CVGW) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC trimmed its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,967 shares of the company’s stock after selling 2,145 shares during the quarter. TIAA CREF Investment Management LLC owned 0.34% of Calavo Growers worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of CVGW. BlackRock Inc. lifted 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 acquiring an additional 1,848,205 shares during the last quarter. Riverbridge Partners LLC lifted 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 acquiring an additional 209,708 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Calavo Growers by 681.4% in the 1st quarter. Teachers Advisors LLC now owns 227,223 shares of the company’s stock valued at $13,770,000 after acquiring an additional 198,144 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Calavo Growers in the 1st quarter valued at about $11,229,000. Finally, Wellington Management Group LLP acquired a new stake in Calavo Growers in the 1st quarter valued at about $6,983,000. 86.93% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on CVGW shares. Buckingham Research cut their price target on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a report on Friday, August 18th. Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Tuesday, August 22nd. Finally, BidaskClub raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $79.40.
Shares of Calavo Growers, Inc. (CVGW) opened at 70.70 on Friday. Calavo Growers, Inc. has a 1-year low of $48.75 and a 1-year high of $76.85. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 34.15 and a beta of 0.70. The firm’s 50-day moving average is $70.99 and its 200-day moving average is $69.44.
Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Wednesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $301.65 million during the quarter, compared to analyst estimates 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 for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 EPS. On average, analysts predict that Calavo Growers, Inc. will post $2.06 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a dividend of $0.95 per share. This is a positive change from Calavo Growers’s previous annual dividend of $0.90. This represents a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 16th. Calavo Growers’s payout ratio is presently 43.48%.
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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