Public Employees Retirement System of Ohio Purchases 15,191 Shares of Calavo Growers, Inc. $CVGW

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Calavo Growers, Inc. by 237.5% in Q2, purchasing an additional 15,191 shares to reach a total of 21,588 shares valued at approximately $574,000.
• Calavo Growers announced a quarterly dividend of $0.20 per share, which will be paid on October 31, representing an annualized yield of 3.1%.
• The company reported earnings of $0.57 per share for the last quarter, exceeding estimates, though revenue was down 0.4% compared to the same quarter last year.

Public Employees Retirement System of Ohio grew its position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 237.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,588 shares of the company's stock after purchasing an additional 15,191 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.12% of Calavo Growers worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Calavo Growers by 12.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,683 shares of the company's stock valued at $706,000 after buying an additional 3,141 shares in the last quarter. GAMMA Investing LLC raised its holdings in Calavo Growers by 1,994.0% during the first quarter. GAMMA Investing LLC now owns 13,171 shares of the company's stock valued at $316,000 after acquiring an additional 12,542 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Calavo Growers by 29.4% in the first quarter. Wedge Capital Management L L P NC now owns 44,254 shares of the company's stock valued at $1,062,000 after acquiring an additional 10,054 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Calavo Growers by 42.0% in the first quarter. SG Americas Securities LLC now owns 11,789 shares of the company's stock valued at $283,000 after acquiring an additional 3,489 shares in the last quarter. Finally, Canvas Wealth Advisors LLC boosted its stake in shares of Calavo Growers by 2.8% in the first quarter. Canvas Wealth Advisors LLC now owns 15,088 shares of the company's stock worth $362,000 after acquiring an additional 407 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Price Performance

CVGW opened at $26.17 on Monday. The business has a fifty day moving average of $27.03 and a 200 day moving average of $26.39. The stock has a market cap of $467.13 million, a P/E ratio of 29.74 and a beta of 0.41. The company has a quick ratio of 1.86, a current ratio of 2.30 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a 52-week low of $21.46 and a 52-week high of $30.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last released its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $178.82 million during the quarter, compared to the consensus estimate of $195.20 million. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 30th. Calavo Growers's dividend payout ratio is currently 90.91%.

Analyst Ratings Changes

Several brokerages recently issued reports on CVGW. Wall Street Zen downgraded Calavo Growers from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Calavo Growers in a report on Saturday, September 27th. Stephens raised shares of Calavo Growers to a "hold" rating in a report on Thursday, September 11th. Finally, Lake Street Capital upped their target price on shares of Calavo Growers from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Calavo Growers currently has a consensus rating of "Hold" and a consensus target price of $40.00.

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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