Parvin Asset Management LLC Buys New Shares in Calavo Growers, Inc. (NASDAQ:CVGW)

Parvin Asset Management LLC purchased a new position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 29,926 shares of the company's stock, valued at approximately $763,000. Parvin Asset Management LLC owned about 0.17% of Calavo Growers as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp boosted its holdings in shares of Calavo Growers by 6.8% in the 4th quarter. Northern Trust Corp now owns 166,393 shares of the company's stock valued at $4,243,000 after purchasing an additional 10,656 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Calavo Growers during the fourth quarter worth about $623,000. Aquatic Capital Management LLC purchased a new position in shares of Calavo Growers in the 4th quarter worth about $86,000. Penn Capital Management Company LLC lifted its stake in shares of Calavo Growers by 54.0% in the 4th quarter. Penn Capital Management Company LLC now owns 168,344 shares of the company's stock valued at $4,293,000 after purchasing an additional 58,995 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Calavo Growers by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,346 shares of the company's stock worth $366,000 after purchasing an additional 991 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Calavo Growers Stock Performance

Shares of CVGW stock traded up $0.04 on Monday, hitting $27.19. 34,987 shares of the stock traded hands, compared to its average volume of 215,290. The company's fifty day moving average is $24.28 and its 200 day moving average is $25.10. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $30.58. The company has a market capitalization of $484.90 million, a PE ratio of -454.50 and a beta of 0.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70.

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Tuesday, April 1st. Calavo Growers's payout ratio is currently 148.15%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVGW shares. Lake Street Capital reduced their target price on shares of Calavo Growers from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. StockNews.com cut Calavo Growers from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th.

Insiders Place Their Bets

In other news, CFO James E. Snyder acquired 3,213 shares of the stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $23.33 per share, for a total transaction of $74,959.29. Following the transaction, the chief financial officer now owns 5,157 shares in the company, valued at approximately $120,312.81. This trade represents a 165.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael A. Browne acquired 5,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $23.12 per share, with a total value of $115,600.00. Following the completion of the purchase, the executive vice president now owns 6,400 shares in the company, valued at approximately $147,968. This represents a 357.14 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 73,438 shares of company stock worth $1,771,303. 7.20% of the stock is owned by corporate insiders.

About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.