Jacobs Levy Equity Management Inc. Sells 11,747 Shares of Calavo Growers, Inc. $CVGW

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Calavo Growers, Inc. by 4.4% during the 1st quarter, selling 11,747 shares to end up with 256,481 shares valued at approximately $6.15 million.
• Calavo Growers reported earnings per share of $0.40 for the most recent quarter, missing estimates of $0.53, alongside a revenue of $190.55 million, which was below the forecast of $192.75 million.
• Wall Street analysts have a consensus rating of "Buy" for Calavo Growers, with a price target set at $35.00, although one analyst recently downgraded the stock from "buy" to "hold."

Jacobs Levy Equity Management Inc. decreased its stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,481 shares of the company's stock after selling 11,747 shares during the period. Jacobs Levy Equity Management Inc. owned 1.44% of Calavo Growers worth $6,153,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVGW. Price T Rowe Associates Inc. MD grew its holdings in shares of Calavo Growers by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,346 shares of the company's stock valued at $366,000 after acquiring an additional 991 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Calavo Growers during the fourth quarter worth about $623,000. Northern Trust Corp grew its holdings in Calavo Growers by 6.8% during the fourth quarter. Northern Trust Corp now owns 166,393 shares of the company's stock worth $4,243,000 after purchasing an additional 10,656 shares during the period. Ameriprise Financial Inc. bought a new position in Calavo Growers during the fourth quarter worth about $561,000. Finally, Balyasny Asset Management L.P. bought a new position in Calavo Growers during the fourth quarter worth about $376,000. Institutional investors own 81.30% of the company's stock.

Calavo Growers Trading Up 0.1%

Shares of CVGW stock opened at $27.21 on Tuesday. The firm has a 50 day moving average price of $27.03 and a two-hundred day moving average price of $25.89. 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 has a market capitalization of $485.43 million, a PE ratio of 46.91 and a beta of 0.39. Calavo Growers, Inc. has a 12-month low of $21.46 and a 12-month high of $30.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The company reported $0.40 earnings per share (EPS) 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 company had revenue of $190.55 million for the quarter, compared to analyst estimates of $192.75 million. During the same quarter last year, the business earned $0.50 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Calavo Growers has a consensus rating of "Buy" and a consensus price target of $35.00.

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.

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