Calavo Growers (NASDAQ:CVGW) Issues Quarterly Earnings Results

Key Points

• Calavo Growers reported earnings of $0.57 per share, missing analysts' estimates by $0.13, with a net margin of 1.50% and a return on equity of 11.79%.
• The company saw a stock price increase of $0.33 during trading, reaching $27.54, although it has a 52-week range of $21.46 to $30.02 and a market cap of $491.31 million.
• Wall Street analysts have downgraded Calavo Growers from a "buy" to a "hold" rating, while the stock maintains an average rating of "Buy" with a consensus price target of $35.00.

Calavo Growers (NASDAQ:CVGW - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03, Zacks reports. Calavo Growers had a net margin of 1.50% and a return on equity of 11.79%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS.

Calavo Growers Stock Performance

NASDAQ CVGW traded up $0.33 on Tuesday, reaching $27.54. 297,751 shares of the stock were exchanged, compared to its average volume of 245,441. The company's 50-day simple moving average is $27.03 and its two-hundred day simple moving average is $25.89. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $491.31 million, a PE ratio of 47.48 and a beta of 0.39. Calavo Growers has a one year low of $21.46 and a one year high of $30.02.

Institutional Investors Weigh In On Calavo Growers

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in shares of 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 purchasing an additional 131,674 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Calavo Growers by 588.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 236,579 shares of the company's stock valued at $6,291,000 after buying an additional 202,221 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Calavo Growers by 1,873.8% during the second quarter. Balyasny Asset Management L.P. now owns 226,793 shares of the company's stock valued at $6,030,000 after buying an additional 215,303 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Calavo Growers by 98.3% during the second quarter. AQR Capital Management LLC now owns 208,295 shares of the company's stock worth $5,539,000 after acquiring an additional 103,269 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Calavo Growers by 176.1% during the second quarter. Bank of America Corp DE now owns 135,681 shares of the company's stock valued at $3,608,000 after acquiring an additional 86,541 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Calavo Growers from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Calavo Growers currently has a consensus rating of "Buy" and an average price target of $35.00.

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.