Calavo Growers (NASDAQ:CVGW) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.90 and traded as high as $27.94. Calavo Growers shares last traded at $27.28, with a volume of 403,186 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Calavo Growers from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Calavo Growers Trading Up 1.2%

The company has a market cap of $486.68 million, a P/E ratio of 47.04 and a beta of 0.41. The business's 50-day moving average price is $26.47 and its 200 day moving average price is $24.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.00.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $192.75 million. Calavo Growers had a net margin of 1.50% and a return on equity of 11.79%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. As a group, analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.93%. Calavo Growers's dividend payout ratio is currently 137.93%.

Insider Buying and Selling

In related news, CEO Lecil E. Cole acquired 38,155 shares of Calavo Growers stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of $24.60 per share, with a total value of $938,613.00. Following the completion of the transaction, the chief executive officer now directly owns 574,225 shares in the company, valued at $14,125,935. This trade represents a 7.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael A. Browne acquired 6,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average cost of $23.69 per share, for a total transaction of $142,140.00. Following the completion of the transaction, the executive vice president now directly owns 7,500 shares of the company's stock, valued at approximately $177,675. This trade represents a 400.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 73,438 shares of company stock valued at $1,771,303. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in shares of Calavo Growers during the first quarter worth approximately $36,000. CWM LLC lifted its holdings in Calavo Growers by 5,960.5% during the 1st quarter. CWM LLC now owns 2,303 shares of the company's stock worth $55,000 after purchasing an additional 2,265 shares during the last quarter. Van ECK Associates Corp lifted its holdings in 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 during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Calavo Growers in the 4th quarter valued at $76,000. Finally, Aquatic Capital Management LLC bought a new stake in Calavo Growers in the 4th quarter valued at $86,000. 81.30% of the stock is owned by 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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