Balyasny Asset Management L.P. Purchases New Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Balyasny Asset Management L.P. acquired a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,745 shares of the company's stock, valued at approximately $376,000. Balyasny Asset Management L.P. owned about 0.08% of Calavo Growers as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Calavo Growers by 221.1% during the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock valued at $3,533,000 after purchasing an additional 85,272 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Calavo Growers in the 4th quarter valued at $1,371,000. Jackson Square Capital LLC increased its stake in shares of Calavo Growers by 13.2% in the 4th quarter. Jackson Square Capital LLC now owns 29,792 shares of the company's stock valued at $760,000 after buying an additional 3,478 shares during the period. Inspire Investing LLC raised its position in shares of Calavo Growers by 9.2% during the fourth quarter. Inspire Investing LLC now owns 15,713 shares of the company's stock worth $401,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Calavo Growers during the fourth quarter worth $247,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Calavo Growers Trading Down 1.3%

Shares of NASDAQ:CVGW traded down $0.36 during trading on Thursday, hitting $25.96. 6,825 shares of the company's stock were exchanged, compared to its average volume of 218,715. The firm has a 50-day moving average price of $25.23 and a two-hundred day moving average price of $25.06. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $30.58. The firm has a market cap of $462.96 million, a P/E ratio of -433.12 and a beta of 0.42. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, April 1st. Calavo Growers's payout ratio is 148.15%.

Insider Buying and Selling at Calavo Growers

In other news, CFO James E. Snyder bought 3,213 shares of the stock in a transaction on Thursday, April 10th. The stock was purchased at an average price of $23.33 per share, with a total value of $74,959.29. Following the completion of the purchase, the chief financial officer now owns 5,157 shares of the company's stock, valued at approximately $120,312.81. This trade represents a 165.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael A. Browne bought 6,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was purchased at an average price of $23.69 per share, for a total transaction of $142,140.00. Following the completion of the acquisition, the executive vice president now owns 7,500 shares of the company's stock, valued at approximately $177,675. This trade represents a 400.00% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 73,438 shares of company stock worth $1,771,303. Insiders own 7.20% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

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.