Pinnacle Associates Ltd. Takes Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Pinnacle Associates Ltd. acquired a new stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,125 shares of the company's stock, valued at approximately $507,000. Pinnacle Associates Ltd. owned 0.12% of Calavo Growers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVGW. New York State Teachers Retirement System acquired a new stake in Calavo Growers during the first quarter worth about $36,000. CWM LLC grew its holdings in Calavo Growers by 5,960.5% during the first quarter. CWM LLC now owns 2,303 shares of the company's stock worth $55,000 after acquiring an additional 2,265 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Calavo Growers during the fourth quarter worth about $76,000. Aquatic Capital Management LLC acquired a new stake in Calavo Growers during the fourth quarter worth about $86,000. Finally, State of Wyoming acquired a new stake in Calavo Growers in the fourth quarter valued at approximately $99,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Calavo Growers Price Performance

CVGW traded down $0.03 during trading on Friday, hitting $26.28. The company's stock had a trading volume of 74,462 shares, compared to its average volume of 259,901. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a twelve month low of $20.30 and a twelve month high of $30.02. The business's fifty day simple moving average is $26.72 and its 200 day simple moving average is $25.16. The firm has a market capitalization of $468.75 million, a price-to-earnings ratio of 45.30 and a beta of 0.39.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.13). Calavo Growers had a net margin of 1.50% and a return on equity of 11.79%. The business 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 business posted $0.50 earnings per share. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 30th. Calavo Growers's dividend payout ratio (DPR) is 137.93%.

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.