Brevan Howard Capital Management LP Reduces Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Brevan Howard Capital Management LP cut its stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 56.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,092 shares of the company's stock after selling 11,700 shares during the period. Brevan Howard Capital Management LP owned approximately 0.05% of Calavo Growers worth $232,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Calavo Growers by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,346 shares of the company's stock valued at $366,000 after purchasing an additional 991 shares in the last quarter. R Squared Ltd bought a new position in Calavo Growers in the fourth quarter valued at $26,000. Van ECK Associates Corp raised its position in Calavo Growers by 69.1% during the fourth quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after purchasing an additional 1,039 shares in the last quarter. Inspire Investing LLC raised its position in Calavo Growers by 9.2% during the fourth quarter. Inspire Investing LLC now owns 15,713 shares of the company's stock valued at $401,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Calavo Growers by 19.7% during the fourth quarter. Wells Fargo & Company MN now owns 11,942 shares of the company's stock worth $305,000 after purchasing an additional 1,969 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

Calavo Growers Trading Up 2.2%

NASDAQ:CVGW traded up $0.56 during trading hours on Thursday, reaching $26.18. The company's stock had a trading volume of 139,117 shares, compared to its average volume of 218,697. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The firm has a market capitalization of $466.97 million, a price-to-earnings ratio of -436.33 and a beta of 0.42. The firm has a 50-day simple moving average of $24.81 and a 200-day simple moving average of $25.07. Calavo Growers, Inc. has a 1 year low of $20.30 and a 1 year high of $30.58.

Calavo Growers Announces Dividend

The business 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 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Tuesday, April 1st. Calavo Growers's dividend payout ratio is presently 148.15%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Calavo Growers news, EVP Michael A. Browne purchased 6,000 shares of Calavo Growers stock in a transaction that occurred on Wednesday, April 2nd. The shares were bought at an average price of $23.69 per share, for a total transaction of $142,140.00. Following the acquisition, the executive vice president now directly owns 7,500 shares in the company, valued at approximately $177,675. This trade represents a 400.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lecil E. Cole purchased 38,155 shares of the stock in a transaction on Monday, April 14th. The shares were acquired at an average cost of $24.60 per share, with a total value of $938,613.00. Following the transaction, the chief executive officer now directly owns 574,225 shares in the company, valued at $14,125,935. The trade was a 7.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 73,438 shares of company stock worth $1,771,303 in the last ninety days. 7.20% of the stock is owned by 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.