Calavo Growers (NASDAQ:CVGW) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Beat on EPS but revenue missed: Calavo reported $0.27 EPS vs. a $0.22 estimate (beat by $0.05) while revenue came in at $122.2M versus expected $138.45M, with a net margin of 3.05% and ROE of 13.43%.
• Dividend and stock reaction: Shares fell to $24.99 on lower volume; the company pays a $0.20 quarterly dividend (3.2% yield) with a payout ratio of 72.73% and a market cap of about $446.6M (PE 22.72).
• Institutional ownership and analyst view: Hedge funds/institutions own ~81.3% of the stock and several increased positions recently, while analysts' consensus is a "Hold" with a $33.50 target amid mixed rating changes.

Calavo Growers (NASDAQ:CVGW - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05, FiscalAI reports. The company had revenue of $122.20 million for the quarter, compared to analysts' expectations of $138.45 million. Calavo Growers had a net margin of 3.05% and a return on equity of 13.43%.

Calavo Growers Stock Performance

Shares of CVGW stock traded down $0.17 on Thursday, hitting $24.99. The company's stock had a trading volume of 117,938 shares, compared to its average volume of 426,078. The company has a market capitalization of $446.57 million, a PE ratio of 22.72 and a beta of 0.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 2.47. Calavo Growers has a fifty-two week low of $18.40 and a fifty-two week high of $28.72. The stock's 50 day moving average is $25.02 and its 200-day moving average is $24.08.

Calavo Growers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, January 13th. Calavo Growers's dividend payout ratio (DPR) is currently 72.73%.

Hedge Funds Weigh In On Calavo Growers

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Calavo Growers in the 1st quarter valued at $2,520,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Calavo Growers by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company's stock valued at $240,000 after buying an additional 390 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Calavo Growers by 91.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company's stock worth $6,608,000 after buying an additional 131,674 shares during the last quarter. Jane Street Group LLC lifted its position in Calavo Growers by 49.7% during 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. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Calavo Growers by 588.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 236,579 shares of the company's stock worth $6,291,000 after purchasing an additional 202,221 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Calavo Growers from a "buy" rating to a "hold" rating in a research report on Saturday, December 13th. Stephens decreased their target price on Calavo Growers from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Thursday, January 22nd. Finally, Weiss Ratings raised shares of Calavo Growers from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Calavo Growers presently has an average rating of "Hold" and a consensus target price of $33.50.

Calavo Growers Company Profile

Calavo Growers, Inc NASDAQ: CVGW, founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo's commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.

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