Vanguard Group Inc. Acquires 13,491 Shares of Calavo Growers, Inc. $CVGW

Key Points

• Vanguard Group Inc. increased its stake in Calavo Growers, Inc. by 1.2% to own 1,161,996 shares worth $27.9 million as of the latest SEC filing.
• Calavo Growers reported $0.40 earnings per share for the last quarter, missing estimates by $0.13, despite a 3.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 2.9% with a payout ratio of 137.93%.

Vanguard Group Inc. grew its position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,161,996 shares of the company's stock after purchasing an additional 13,491 shares during the period. Vanguard Group Inc. owned about 6.51% of Calavo Growers worth $27,876,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in shares of Calavo Growers by 390.5% in the 1st quarter. Teacher Retirement System of Texas now owns 60,533 shares of the company's stock valued at $1,452,000 after purchasing an additional 48,193 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Calavo Growers in the 1st quarter valued at $36,000. GAMMA Investing LLC boosted its stake in shares of Calavo Growers by 1,994.0% in the 1st quarter. GAMMA Investing LLC now owns 13,171 shares of the company's stock valued at $316,000 after purchasing an additional 12,542 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Calavo Growers in the 4th quarter valued at $561,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Calavo Growers in the 1st quarter valued at $507,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Calavo Growers Trading Up 0.3%

NASDAQ:CVGW traded up $0.07 on Friday, hitting $27.35. 107,061 shares of the stock were exchanged, compared to its average volume of 165,269. The stock has a market capitalization of $487.92 million, a price-to-earnings ratio of 47.16 and a beta of 0.42. Calavo Growers, Inc. has a 52 week low of $21.46 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. The company's 50-day moving average price is $26.97 and its 200 day moving average price is $25.74.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13). The firm had revenue of $190.55 million for the quarter, compared to the consensus estimate of $192.75 million. Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%.The business'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 earnings per share. On average, equities research analysts forecast that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Calavo Growers from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $35.00.

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.