Calavo Growers, Inc. (CVGW) Shares Bought by Cadence Capital Management LLC
Cadence Capital Management LLC boosted its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,491 shares of the company’s stock after purchasing an additional 1,002 shares during the period. Cadence Capital Management LLC owned about 0.12% of Calavo Growers worth $1,500,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Pinebridge Investments L.P. lifted its stake in Calavo Growers by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock valued at $140,000 after purchasing an additional 29 shares during the last quarter. Renaissance Group LLC lifted its stake in Calavo Growers by 1.2% in the second quarter. Renaissance Group LLC now owns 5,762 shares of the company’s stock valued at $398,000 after purchasing an additional 68 shares during the last quarter. Arizona State Retirement System lifted its stake in Calavo Growers by 1.3% in the second quarter. Arizona State Retirement System now owns 8,063 shares of the company’s stock valued at $557,000 after purchasing an additional 100 shares during the last quarter. Rhumbline Advisers lifted its stake in Calavo Growers by 0.4% in the second quarter. Rhumbline Advisers now owns 29,938 shares of the company’s stock valued at $2,067,000 after purchasing an additional 106 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Calavo Growers by 3.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,620 shares of the company’s stock valued at $250,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.
Shares of Calavo Growers, Inc. (NASDAQ CVGW) opened at $76.75 on Friday. Calavo Growers, Inc. has a 1-year low of $48.75 and a 1-year high of $77.15. The stock has a market cap of $1,339.54, a price-to-earnings ratio of 36.21 and a beta of 0.65.
Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Wednesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. The business had revenue of $301.65 million for the quarter, compared to analysts’ expectations of $278.66 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. equities analysts anticipate that Calavo Growers, Inc. will post 2.05 earnings per share for the current year.
The firm also recently announced an annual dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.95 per share. This is a boost from Calavo Growers’s previous annual dividend of $0.90. The ex-dividend date is Thursday, November 16th. This represents a yield of 1.29%. Calavo Growers’s payout ratio is presently 45.89%.
In other Calavo Growers news, insider James E. Snyder sold 750 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total transaction of $52,642.50. Following the sale, the insider now owns 11,095 shares of the company’s stock, valued at approximately $778,758.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.
Several research firms recently commented on CVGW. Buckingham Research dropped their price objective on Calavo Growers from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, August 18th. Zacks Investment Research cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a 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’s stock. Calavo Growers currently has an average rating of “Buy” and a consensus target price of $79.40.
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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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