Calavo Growers (NASDAQ:CVGW) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares of Calavo Growers moved above their 200-day moving average (200‑day MA $23.90), trading as high as $27.93 and last at $27.37 on volume of about 620,817 shares.
• In the latest quarter Calavo reported $0.27 EPS (beating the $0.22 estimate) but revenue of $122.2M missed expectations of $138.45M, leaving net margin around 2.6%.
• The company declared a $0.20 quarterly dividend (annualized $0.80, ~2.9% yield), while analysts hold a consensus Hold rating with an average price target of $33.50.

Shares of Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.90 and traded as high as $27.93. Calavo Growers shares last traded at $27.37, with a volume of 620,817 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVGW shares. Weiss Ratings raised Calavo Growers from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 9th. Stephens decreased their price objective on Calavo Growers from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.50.

Calavo Growers Trading Down 1.1%

The firm has a market cap of $489.10 million, a price-to-earnings ratio of 30.75 and a beta of 0.38. The company has a fifty day moving average price of $26.16 and a 200-day moving average price of $23.90. The company has a current ratio of 2.21, a quick ratio of 1.66 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $122.20 million during the quarter, compared to analysts' expectations of $138.45 million. Calavo Growers had a return on equity of 12.81% and a net margin of 2.61%.

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Friday, April 24th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. Calavo Growers's dividend payout ratio is presently 89.89%.

Hedge Funds Weigh In On Calavo Growers

A number of large investors have recently bought and sold shares of the business. EP Wealth Advisors LLC acquired a new position in Calavo Growers in the 4th quarter worth about $237,000. Numerai GP LLC acquired a new position in Calavo Growers in the 4th quarter worth about $997,000. Millennium Management LLC raised its holdings in Calavo Growers by 23.4% in the 4th quarter. Millennium Management LLC now owns 53,905 shares of the company's stock worth $1,172,000 after purchasing an additional 10,208 shares during the period. Inspire Investing LLC raised its holdings in Calavo Growers by 24.7% in the 4th quarter. Inspire Investing LLC now owns 21,771 shares of the company's stock worth $474,000 after purchasing an additional 4,315 shares during the period. Finally, Jump Financial LLC acquired a new position in Calavo Growers in the 4th quarter worth about $367,000. Institutional investors and hedge funds own 81.30% of the company's stock.

About Calavo Growers

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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