Nuveen LLC Invests $1.19 Million in Calavo Growers, Inc. $CVGW

Key Points

• Nuveen LLC has invested approximately $1.19 million in Calavo Growers, purchasing 49,546 shares during the first quarter, giving them a 0.28% ownership stake.
• Calavo Growers reported earnings of $0.40 per share, missing estimates, along with a quarterly revenue of $190.55 million, compared to analyst predictions of $192.75 million.
• The company declared a quarterly dividend of $0.20 per share, with a current dividend yield of 2.9%, albeit with a high dividend payout ratio of 137.93%.

Nuveen LLC purchased a new stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 49,546 shares of the company's stock, valued at approximately $1,189,000. Nuveen LLC owned approximately 0.28% of Calavo Growers at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in Calavo Growers in the 1st quarter valued at $36,000. CWM LLC boosted its stake in Calavo Growers by 5,960.5% in the 1st quarter. CWM LLC now owns 2,303 shares of the company's stock valued at $55,000 after buying an additional 2,265 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Calavo Growers in the 4th quarter valued at $86,000. State of Wyoming acquired a new stake in Calavo Growers in the 4th quarter valued at $99,000. Finally, Tower Research Capital LLC TRC boosted its stake in Calavo Growers by 139.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,393 shares of the company's stock valued at $138,000 after buying an additional 3,141 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 lowered Calavo Growers from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Calavo Growers currently has an average rating of "Buy" and a consensus price target of $35.00.

Calavo Growers Price Performance

Calavo Growers stock traded down $0.12 on Thursday, reaching $27.26. The company's stock had a trading volume of 54,151 shares, compared to its average volume of 245,901. 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 cap of $486.23 million, a price-to-earnings ratio of 46.86 and a beta of 0.39. The business's fifty day moving average price is $27.00 and its 200 day moving average price is $25.79. Calavo Growers, Inc. has a twelve month low of $21.46 and a twelve month high of $30.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.13). The business 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%.Calavo Growers's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Equities analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.9%. Calavo Growers's payout ratio is presently 137.93%.

About Calavo Growers

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.