Calavo Growers, Inc. (NASDAQ:CVGW) Short Interest Up 36.3% in January

Calavo Growers, Inc. (NASDAQ:CVGW) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 720,472 shares, a growth of 36.3% from the December 31st total of 528,771 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average trading volume of 489,985 shares, the short-interest ratio is currently 1.5 days. Based on an average trading volume of 489,985 shares, the short-interest ratio is currently 1.5 days. Approximately 4.3% of the company’s stock are short sold.

Calavo Growers Stock Up 1.6%

CVGW stock traded up $0.40 during mid-day trading on Friday, hitting $25.44. 331,481 shares of the company were exchanged, compared to its average volume of 685,074. The firm has a fifty day simple moving average of $22.28 and a 200 day simple moving average of $24.28. The company has a market capitalization of $454.61 million, a PE ratio of 23.13 and a beta of 0.37. Calavo Growers has a twelve month low of $18.40 and a twelve month high of $28.72. The company has a current ratio of 2.47, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, January 14th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.12). The company had revenue of $124.68 million for the quarter, compared to the consensus estimate of $147.95 million. Calavo Growers had a return on equity of 13.43% and a net margin of 3.05%. On average, research analysts forecast that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, January 13th. Calavo Growers’s payout ratio is 72.73%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Calavo Growers in a research note on Monday, December 29th. Wall Street Zen lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Stephens cut their price objective on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Calavo Growers presently has a consensus rating of “Hold” and an average target price of $33.50.

Hedge Funds Weigh In On Calavo Growers

A number of hedge funds have recently added to or reduced their stakes in CVGW. Quarry LP acquired a new stake in shares of Calavo Growers during the third quarter worth $28,000. Spire Wealth Management acquired a new position in shares of Calavo Growers in the 2nd quarter valued at about $30,000. Tower Research Capital LLC TRC grew its position in shares of Calavo Growers by 673.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock valued at $74,000 after buying an additional 2,416 shares during the last quarter. Van ECK Associates Corp raised its stake in Calavo Growers by 23.1% during the third quarter. Van ECK Associates Corp now owns 3,648 shares of the company’s stock worth $94,000 after acquiring an additional 685 shares during the period. Finally, SG Americas Securities LLC raised its stake in Calavo Growers by 32.3% during the fourth quarter. SG Americas Securities LLC now owns 8,117 shares of the company’s stock worth $177,000 after acquiring an additional 1,982 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

About Calavo Growers

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.