Calavo Growers, Inc. (NASDAQ:CVGW) Announces Quarterly Dividend of $0.20

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) declared a quarterly dividend on Tuesday, June 10th, Wall Street Journal reports. Investors of record on Monday, June 30th will be given a dividend of 0.20 per share on Wednesday, July 30th. This represents a $0.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Monday, June 30th.

Calavo Growers has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Price Performance

Shares of CVGW traded up $0.40 during mid-day trading on Wednesday, reaching $23.58. The company had a trading volume of 764,048 shares, compared to its average volume of 234,201. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The company has a market capitalization of $420.60 million, a P/E ratio of -393.00 and a beta of 0.41. Calavo Growers has a twelve month low of $20.30 and a twelve month high of $30.58. The company's 50-day moving average is $25.94 and its 200-day moving average is $24.92.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.13). The firm had revenue of $190.55 million for the quarter, compared to the consensus estimate of $192.75 million. Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share. On average, equities analysts anticipate that Calavo Growers will post 1.87 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

Insider Transactions at Calavo Growers

In other news, CEO Lecil E. Cole acquired 38,155 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was bought at an average price 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 approximately $14,125,935. The trade was a 7.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael A. Browne bought 6,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was purchased at an average cost 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 in the company, valued at $177,675. This trade represents a 400.00% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 73,438 shares of company stock valued at $1,771,303 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Calavo Growers

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC bought a new position in shares of Calavo Growers during the first quarter worth approximately $2,520,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Calavo Growers by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company's stock valued at $240,000 after purchasing an additional 390 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Calavo Growers by 91.6% during the first quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company's stock worth $6,608,000 after acquiring an additional 131,674 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Calavo Growers by 49.7% in the first quarter. Jane Street Group LLC now owns 50,858 shares of the company's stock valued at $1,220,000 after buying an additional 16,891 shares during the period. Institutional investors own 81.30% of the company's stock.

Calavo Growers Company 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.