Calavo Growers (NASDAQ:CVGW) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Calavo Growers, Inc. (NASDAQ:CVGW) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.90 and traded as high as $27.93. Calavo Growers shares last traded at $27.37, with a volume of 620,817 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Stephens lowered their target price 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 analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Calavo Growers presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Calavo Growers Stock Up 0.4%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.66 and a current ratio of 2.21. The stock’s fifty day moving average is $26.26 and its two-hundred day moving average is $23.95. The company has a market cap of $500.00 million, a price-to-earnings ratio of 31.44 and a beta of 0.38.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Calavo Growers had a net margin of 2.61% and a return on equity of 12.81%. The business had revenue of $122.20 million during the quarter, compared to the consensus estimate of $138.45 million.

Calavo Growers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Friday, April 24th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, April 24th. Calavo Growers’s dividend payout ratio is presently 89.89%.

Institutional Investors Weigh In On Calavo Growers

Institutional investors have recently added to or reduced their stakes in the company. SG Capital Management LLC bought a new stake in Calavo Growers in the 3rd quarter worth about $13,443,000. Rice Hall James & Associates LLC bought a new position in shares of Calavo Growers during the 3rd quarter valued at approximately $1,794,000. Envestnet Asset Management Inc. grew its position in shares of Calavo Growers by 59.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 59,846 shares of the company’s stock valued at $1,540,000 after acquiring an additional 22,361 shares during the period. Deprince Race & Zollo Inc. grew its position in shares of Calavo Growers by 11.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 410,469 shares of the company’s stock valued at $8,928,000 after acquiring an additional 41,094 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Calavo Growers by 703.0% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 106,400 shares of the company’s stock valued at $2,739,000 after acquiring an additional 93,150 shares during the period. 81.30% of the stock is owned by institutional investors.

Calavo Growers Company Profile

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.