Short Interest in Calavo Growers, Inc. (NASDAQ:CVGW) Grows By 51.8%

Calavo Growers, Inc. (NASDAQ:CVGW) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 1,093,353 shares, a growth of 51.8% from the January 15th total of 720,472 shares. Based on an average daily volume of 896,335 shares, the days-to-cover ratio is presently 1.2 days. Currently, 6.6% of the shares of the stock are sold short. Currently, 6.6% of the shares of the stock are sold short. Based on an average daily volume of 896,335 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On Calavo Growers

A number of institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Calavo Growers in the 3rd quarter worth $28,000. Spire Wealth Management bought a new position in shares of Calavo Growers during the second quarter valued at about $30,000. Garner Asset Management Corp purchased a new position in shares of Calavo Growers in the fourth quarter worth about $26,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Calavo Growers by 145.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,407 shares of the company’s stock valued at $52,000 after acquiring an additional 1,426 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in 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 acquiring an additional 2,416 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVGW. Wall Street Zen cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Calavo Growers in a research report on Monday, December 29th. Finally, Stephens lowered their price target on 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, Calavo Growers has an average rating of “Hold” and a consensus price target of $33.50.

Calavo Growers Price Performance

CVGW traded up $0.75 during trading on Friday, reaching $26.07. The stock had a trading volume of 380,852 shares, compared to its average volume of 535,683. The business has a 50-day moving average of $23.32 and a 200-day moving average of $24.19. Calavo Growers has a one year low of $18.40 and a one year high of $28.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.47. The stock has a market cap of $465.87 million, a PE ratio of 23.70 and a beta of 0.39.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, January 14th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). The firm 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%. As a group, equities research analysts anticipate that Calavo Growers will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, January 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. Calavo Growers’s dividend payout ratio (DPR) is 72.73%.

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.