Ameriprise Financial Inc. Makes New Investment in Calavo Growers, Inc. (NASDAQ:CVGW)

Ameriprise Financial Inc. acquired a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,002 shares of the company's stock, valued at approximately $561,000. Ameriprise Financial Inc. owned approximately 0.12% of Calavo Growers as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Algert Global LLC bought a new stake in shares of Calavo Growers in the 4th quarter valued at $1,317,000. Parvin Asset Management LLC acquired a new stake in Calavo Growers in the 4th quarter valued at about $763,000. Northern Trust Corp lifted its stake in Calavo Growers by 6.8% in the 4th quarter. Northern Trust Corp now owns 166,393 shares of the company's stock valued at $4,243,000 after purchasing an additional 10,656 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Calavo Growers in the 4th quarter valued at about $623,000. Finally, Aquatic Capital Management LLC acquired a new stake in Calavo Growers in the 4th quarter valued at about $86,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Transactions at Calavo Growers

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

Calavo Growers Trading Down 0.3%

CVGW stock traded down $0.08 during midday trading on Thursday, hitting $26.61. The stock had a trading volume of 223,357 shares, compared to its average volume of 223,316. The business has a fifty day moving average price of $25.74 and a two-hundred day moving average price of $24.96. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $30.58. The firm has a market cap of $474.64 million, a P/E ratio of -443.50 and a beta of 0.42. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

Calavo Growers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, April 1st. Calavo Growers's payout ratio is presently 148.15%.

Analysts Set New Price Targets

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

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.