Calavo Growers (NASDAQ:CVGW) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.02 and traded as high as $26.59. Calavo Growers shares last traded at $26.37, with a volume of 137,545 shares traded.

Analysts Set New Price Targets

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

Calavo Growers Trading Up 0.2%

The company's fifty day moving average price is $26.73 and its two-hundred day moving average price is $25.09. 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 cap of $469.55 million, a P/E ratio of 45.38 and a beta of 0.39.

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 business had revenue of $190.55 million during the quarter, compared to the consensus estimate of $192.75 million. Calavo Growers had a net margin of 1.50% and a return on equity of 11.79%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. As a group, sell-side analysts predict that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

The firm also recently declared 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 of this dividend is Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. Calavo Growers's dividend payout ratio is currently 137.93%.

Hedge Funds Weigh In On Calavo Growers

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its position in Calavo Growers by 4.4% during the first quarter. US Bancorp DE now owns 9,136 shares of the company's stock worth $219,000 after purchasing an additional 384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Calavo Growers by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,985 shares of the company's stock valued at $240,000 after purchasing an additional 390 shares in the last quarter. Canvas Wealth Advisors LLC raised its stake in Calavo Growers by 2.8% in the first quarter. Canvas Wealth Advisors LLC now owns 15,088 shares of the company's stock valued at $362,000 after purchasing an additional 407 shares in the last quarter. Comerica Bank raised its stake in Calavo Growers by 3.9% in the first quarter. Comerica Bank now owns 11,776 shares of the company's stock valued at $283,000 after purchasing an additional 441 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Calavo Growers by 3.3% in the second quarter. Inspire Investing LLC now owns 14,724 shares of the company's stock valued at $392,000 after purchasing an additional 469 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

About Calavo Growers

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.