IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 16,237 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has decreased its stake in Calavo Growers, Inc. by 28.7%, now holding 40,346 shares valued at approximately $968,000.
• Wall Street Zen downgraded Calavo Growers from a "buy" to a "hold" rating on May 15th, indicating cautious sentiment in the market.
• Calavo Growers reported $0.40 earnings per share for the latest quarter, falling short of the expected $0.53 consensus estimate, even as revenue grew by 3.3% year-over-year.

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 28.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,346 shares of the company's stock after selling 16,237 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.23% of Calavo Growers worth $968,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in Calavo Growers in the 1st quarter worth approximately $36,000. CWM LLC raised its holdings in Calavo Growers by 5,960.5% in the 1st quarter. CWM LLC now owns 2,303 shares of the company's stock worth $55,000 after acquiring an additional 2,265 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Calavo Growers in the 4th quarter worth approximately $76,000. Aquatic Capital Management LLC purchased a new position in Calavo Growers in the 4th quarter worth approximately $86,000. Finally, State of Wyoming purchased a new position in Calavo Growers in the 4th quarter worth approximately $99,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Calavo Growers Stock Performance

CVGW traded up $0.57 during mid-day trading on Friday, reaching $27.53. 184,177 shares of the company traded hands, compared to its average volume of 181,761. The stock has a market capitalization of $491.14 million, a P/E ratio of 47.47 and a beta of 0.42. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.02. The company's fifty day moving average price is $26.75 and its 200-day moving average price is $25.27. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its earnings results on Monday, June 9th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.13). The company had revenue of $190.55 million for the quarter, compared to analysts' expectations of $192.75 million. Calavo Growers had a net margin of 1.50% and a return on equity of 11.79%. Calavo Growers's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. On average, sell-side analysts expect that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. Calavo Growers's payout ratio is currently 137.93%.

Calavo Growers 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.