Calavo Growers, Inc. (NASDAQ:CVGW) Shares Sold by Crown Advisors Management Inc.

Key Points

• Crown Advisors Management Inc. sold 30,000 shares of Calavo Growers, reducing its stake by 21.4% to a total of 110,000 shares, making it the fund's 18th largest holding.
• Calavo Growers reported earnings of $0.40 per share, missing estimates by $0.13, and generated revenues of $190.55 million, falling short of expectations.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annual yield of 2.9%, though its payout ratio is high at 137.93%.

Crown Advisors Management Inc. lowered its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,000 shares of the company's stock after selling 30,000 shares during the quarter. Calavo Growers comprises 2.3% of Crown Advisors Management Inc.'s portfolio, making the stock its 18th largest position. Crown Advisors Management Inc. owned approximately 0.62% of Calavo Growers worth $2,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuance Investments LLC grew its holdings in shares of Calavo Growers by 6.4% during the first quarter. Nuance Investments LLC now owns 1,770,251 shares of the company's stock valued at $42,468,000 after purchasing an additional 106,736 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Calavo Growers by 363.0% during the fourth quarter. Squarepoint Ops LLC now owns 78,538 shares of the company's stock valued at $2,003,000 after purchasing an additional 61,574 shares during the last quarter. Penn Capital Management Company LLC grew its holdings in Calavo Growers by 54.0% in the 4th quarter. Penn Capital Management Company LLC now owns 168,344 shares of the company's stock worth $4,293,000 after buying an additional 58,995 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Calavo Growers by 46.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 180,268 shares of the company's stock worth $4,597,000 after buying an additional 57,575 shares in the last quarter. Finally, Algert Global LLC bought a new position in Calavo Growers in the 4th quarter worth approximately $1,317,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Wall Street Analyst Weigh In

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

Calavo Growers Stock Performance

CVGW stock traded up $0.27 on Friday, reaching $27.66. The company's stock had a trading volume of 145,834 shares, compared to its average volume of 255,516. Calavo Growers, Inc. has a 52 week low of $21.46 and a 52 week high of $30.02. The company has a market capitalization of $493.45 million, a P/E ratio of 47.69 and a beta of 0.42. The firm has a fifty day moving average of $26.81 and a two-hundred day moving average of $25.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.00 and a quick ratio of 1.54.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last released 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 firm had revenue of $190.55 million during the quarter, compared to analyst estimates of $192.75 million. Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. As a group, analysts predict that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

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

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.