Nuance Investments LLC Has $42.47 Million Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Key Points

• Nuance Investments LLC increased its stake in Calavo Growers by 6.4%, owning 1,770,251 shares valued at approximately $42.47 million, making it the firm's 14th largest position.
• The company reported a missed earnings forecast for the most recent quarter, posting $0.40 EPS against an estimated $0.53, despite a 3.3% year-over-year revenue growth.
• Calavo Growers announced a quarterly dividend of $0.20 per share, yielding 2.9%, with a payout ratio exceeding 137%.

Nuance Investments LLC raised its position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,770,251 shares of the company's stock after buying an additional 106,736 shares during the period. Calavo Growers accounts for about 2.8% of Nuance Investments LLC's investment portfolio, making the stock its 14th biggest position. Nuance Investments LLC owned 9.92% of Calavo Growers worth $42,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Calavo Growers in the first quarter valued at $1,189,000. Virtu Financial LLC bought a new stake in Calavo Growers during the 1st quarter worth about $219,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Calavo Growers in the 1st quarter valued at about $297,000. Charles Schwab Investment Management Inc. increased its position in Calavo Growers by 0.3% in the 1st 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. Finally, Vanguard Group Inc. raised its stake in shares of Calavo Growers by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company's stock worth $27,876,000 after acquiring an additional 13,491 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Calavo Growers Stock Up 0.8%

NASDAQ CVGW opened at $27.76 on Tuesday. The stock has a fifty day moving average of $26.76 and a 200-day moving average of $25.31. The stock has a market capitalization of $495.24 million, a P/E ratio of 47.86 and a beta of 0.42. Calavo Growers, Inc. has a 52 week low of $20.30 and a 52 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.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $190.55 million during the quarter, compared to the consensus estimate of $192.75 million. Calavo Growers had a net margin of 1.50% and a return on equity of 11.79%. Calavo Growers's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities research analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Announces Dividend

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

Analyst Ratings Changes

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

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.

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