Virtu Financial LLC Takes Position in Calavo Growers, Inc. $CVGW

Key Points

• Virtu Financial LLC has acquired 9,122 shares of Calavo Growers, Inc., valued at approximately $219,000, increasing its ownership to 0.05% as per its recent SEC filing.
• Calavo Growers reported a quarterly loss with earnings per share of $0.40, missing estimates of $0.53, while revenue increased by 3.3% year-over-year.
• The company announced a quarterly dividend of $0.20 per share, translating to an annualized yield of 2.9%, with a payout ratio currently at 137.93%.

Virtu Financial LLC bought a new stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,122 shares of the company's stock, valued at approximately $219,000. Virtu Financial LLC owned about 0.05% of Calavo Growers at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVGW. New York State Teachers Retirement System purchased a new stake in Calavo Growers during the first quarter valued at approximately $36,000. CWM LLC boosted its position in shares of Calavo Growers by 5,960.5% in the first quarter. CWM LLC now owns 2,303 shares of the company's stock worth $55,000 after purchasing an additional 2,265 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Calavo Growers in the fourth quarter worth approximately $86,000. State of Wyoming bought a new position in shares of Calavo Growers in the fourth quarter worth approximately $99,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Calavo Growers by 139.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,393 shares of the company's stock worth $138,000 after purchasing an additional 3,141 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Price Performance

CVGW traded up $0.02 during trading hours on Wednesday, hitting $27.70. The company's stock had a trading volume of 49,915 shares, compared to its average volume of 252,150. The business's 50-day moving average price is $26.89 and its 200-day moving average price is $25.47. Calavo Growers, Inc. has a 12 month low of $21.46 and a 12 month high of $30.02. The stock has a market cap of $494.17 million, a price-to-earnings ratio of 47.76 and a beta of 0.42. 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 (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 the consensus estimate of $0.53 by ($0.13). The firm had revenue of $190.55 million for the quarter, compared to analysts' expectations of $192.75 million. Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%.The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Sell-side analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

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

Analysts Set New Price Targets

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

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.