Calavo Growers (NASDAQ:CVGW) Downgraded by StockNews.com to Hold

Calavo Growers (NASDAQ:CVGW - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

Separately, Lake Street Capital cut their price target 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.

Calavo Growers Stock Down 1.6%

Shares of NASDAQ:CVGW opened at $25.62 on Thursday. The firm has a fifty day moving average of $24.81 and a 200 day moving average of $25.07. Calavo Growers has a 52-week low of $20.30 and a 52-week high of $30.58. 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 $456.98 million, a PE ratio of -427.00 and a beta of 0.42.

Insider Buying and Selling at Calavo Growers

In related news, EVP Michael A. Browne bought 5,000 shares of the company's stock in a transaction on Thursday, April 10th. The shares were acquired at an average cost of $23.12 per share, with a total value of $115,600.00. Following the completion of the acquisition, the executive vice president now owns 6,400 shares of the company's stock, valued at $147,968. The trade was a 357.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lecil E. Cole bought 38,155 shares of the business's stock in a transaction dated Monday, April 14th. The stock was bought at an average cost of $24.60 per share, for a total transaction of $938,613.00. Following the completion of the purchase, the chief executive officer now owns 574,225 shares of the company's stock, valued at approximately $14,125,935. The trade was a 7.12% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 73,438 shares of company stock valued at $1,771,303. Corporate insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in Calavo Growers by 338.3% in the 3rd quarter. Barclays PLC now owns 26,625 shares of the company's stock worth $759,000 after acquiring an additional 20,551 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Calavo Growers during the fourth quarter valued at $1,371,000. Jackson Square Capital LLC boosted its position in shares of Calavo Growers by 13.2% during the fourth 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 last quarter. Finally, Inspire Investing LLC increased its holdings in Calavo Growers by 9.2% in the 4th quarter. Inspire Investing LLC now owns 15,713 shares of the company's stock worth $401,000 after buying an additional 1,321 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.

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