Brevan Howard Capital Management LP Lowers Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd purchased a new position in shares of Calavo Growers during the 4th quarter worth approximately $26,000. Van ECK Associates Corp increased its stake in shares of Calavo Growers by 69.1% during the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock worth $65,000 after purchasing an additional 1,039 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Calavo Growers during the 4th quarter worth approximately $76,000. Aquatic Capital Management LLC purchased a new position in shares of Calavo Growers during the 4th quarter worth approximately $86,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Calavo Growers by 139.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,393 shares of the company's stock worth $138,000 after purchasing an additional 3,141 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michael A. Browne acquired 5,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $23.12 per share, with a total value of $115,600.00. Following the purchase, the executive vice president now directly owns 6,400 shares of the company's stock, valued at approximately $147,968. This represents a 357.14% 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 acquired 38,155 shares of the stock in a transaction dated Monday, April 14th. The shares were bought at an average cost of $24.60 per share, with a total value of $938,613.00. Following the completion of the purchase, the chief executive officer now directly owns 574,225 shares in the company, valued at approximately $14,125,935. This trade represents a 7.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 73,438 shares of company stock valued at $1,771,303. Company insiders own 7.20% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Calavo Growers from a "buy" rating to a "hold" rating in a research note on Thursday.

Calavo Growers Price Performance

Shares of CVGW traded up $0.72 during mid-day trading on Friday, reaching $26.90. 205,000 shares of the company's stock were exchanged, compared to its average volume of 220,309. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $24.96 and a two-hundred day simple moving average of $25.05. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The company has a market cap of $479.82 million, a price-to-earnings ratio of -448.33 and a beta of 0.42.

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 annualized dividend and a yield of 2.97%. Calavo Growers's payout ratio is currently 148.15%.

Calavo Growers Profile

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.