GAMMA Investing LLC Buys 12,542 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

GAMMA Investing LLC increased its position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 1,994.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,171 shares of the company's stock after buying an additional 12,542 shares during the quarter. GAMMA Investing LLC owned about 0.07% of Calavo Growers worth $316,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Calavo Growers by 0.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 268,228 shares of the company's stock valued at $6,840,000 after purchasing an additional 960 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Calavo Growers by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,346 shares of the company's stock valued at $366,000 after purchasing an additional 991 shares during the last quarter. Van ECK Associates Corp lifted its stake in Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock worth $65,000 after acquiring an additional 1,039 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Calavo Growers by 19.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,942 shares of the company's stock worth $305,000 after acquiring an additional 1,969 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Calavo Growers in the 4th quarter worth about $76,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Calavo Growers Stock Up 1.7%

Calavo Growers stock traded up $0.47 during mid-day trading on Friday, hitting $27.75. The company's stock had a trading volume of 469,847 shares, compared to its average volume of 243,356. The firm's 50 day moving average is $26.55 and its 200 day moving average is $24.89. The company has a market cap of $495.06 million, a PE ratio of 47.85 and a beta of 0.41. 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, 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 issued its earnings results on Monday, June 9th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13). Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%. The firm had revenue of $190.55 million during the quarter, compared to analyst estimates of $192.75 million. During the same period in the previous year, the company earned $0.50 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, June 30th. Calavo Growers's payout ratio is currently 137.93%.

Insiders Place Their Bets

In related news, CEO Lecil E. Cole acquired 21,070 shares of the stock in a transaction dated Friday, April 11th. The shares were acquired at an average price of $23.73 per share, with a total value of $499,991.10. Following the acquisition, the chief executive officer now owns 536,070 shares in the company, valued at approximately $12,720,941.10. The trade was a 4.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael A. Browne acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average cost of $23.12 per share, for a total transaction of $115,600.00. Following the completion of the purchase, the executive vice president now directly owns 6,400 shares in the company, valued at $147,968. This represents a 357.14% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 73,438 shares of company stock valued at $1,771,303 in the last three months. Insiders own 7.20% of the company's stock.

Wall Street Analyst Weigh In

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

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.