Calavo Growers, Inc. (NASDAQ:CVGW) Position Cut 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. decreased its position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 21.4% in the 1st quarter, according to its most recent Form 13F filing 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 accounts for about 2.3% of Crown Advisors Management Inc.'s investment portfolio, making the stock its 18th largest holding. Crown Advisors Management Inc. owned approximately 0.62% of Calavo Growers worth $2,638,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Nuance Investments LLC grew its position in Calavo Growers by 6.4% in the first quarter. Nuance Investments LLC now owns 1,770,251 shares of the company's stock valued at $42,468,000 after acquiring an additional 106,736 shares in the last quarter. Nuveen LLC acquired a new stake in Calavo Growers in the first quarter valued at approximately $1,189,000. Virtu Financial LLC acquired a new stake in Calavo Growers in the first quarter valued at approximately $219,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Calavo Growers in the first quarter valued at approximately $297,000. Finally, Charles Schwab Investment Management Inc. grew its position in Calavo Growers by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 206,410 shares of the company's stock valued at $4,952,000 after acquiring an additional 669 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Analysts Set New Price Targets

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

Calavo Growers Stock Up 1.0%

Shares of CVGW stock traded up $0.27 during mid-day trading on Friday, reaching $27.66. 145,834 shares of the company were exchanged, compared to its average volume of 171,620. Calavo Growers, Inc. has a fifty-two week low of $21.46 and a fifty-two week high of $30.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market capitalization of $493.45 million, a P/E ratio of 47.69 and a beta of 0.42. The business's 50 day simple moving average is $26.81 and its 200 day simple moving average is $25.41.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last released its quarterly 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 analyst estimates of $192.75 million. Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. Research analysts predict that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 30th. 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.