JPMorgan Chase & Co. Trims Position in Calavo Growers, Inc. (NASDAQ:CVGW)

JPMorgan Chase & Co. lowered its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 27.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 90,442 shares of the company's stock after selling 33,399 shares during the quarter. JPMorgan Chase & Co. owned about 0.51% of Calavo Growers worth $2,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Calavo Growers during the 4th quarter worth about $26,000. Van ECK Associates Corp lifted its holdings in shares of Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after buying an additional 1,039 shares during the period. Inspire Investing LLC lifted its holdings in shares of Calavo Growers by 9.2% in the 4th quarter. Inspire Investing LLC now owns 15,713 shares of the company's stock valued at $401,000 after buying an additional 1,321 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Calavo Growers in the 4th quarter valued at about $76,000. Finally, Semanteon Capital Management LP raised its holdings in Calavo Growers by 19.6% in the 4th quarter. Semanteon Capital Management LP now owns 20,256 shares of the company's stock worth $517,000 after purchasing an additional 3,325 shares during the period. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Buying and Selling at Calavo Growers

In other news, CEO Lecil E. Cole acquired 21,070 shares of the firm's stock in a transaction on Friday, April 11th. The shares were bought at an average price of $23.73 per share, for a total transaction of $499,991.10. Following the acquisition, the chief executive officer now owns 536,070 shares of the company's stock, valued at approximately $12,720,941.10. This trade represents a 4.09 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael A. Browne acquired 6,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was purchased at an average price of $23.69 per share, for a total transaction of $142,140.00. Following the acquisition, the executive vice president now directly owns 7,500 shares in the company, valued at $177,675. This represents a 400.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 73,438 shares of company stock worth $1,771,303. Corporate insiders own 7.20% of the company's stock.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW traded up $0.08 during trading on Tuesday, reaching $26.88. The stock had a trading volume of 140,732 shares, compared to its average volume of 214,000. The business has a fifty day moving average price of $24.06 and a 200-day moving average price of $25.15. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $30.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 2.17. The stock has a market cap of $479.46 million, a PE ratio of -448.00 and a beta of 0.41.

Calavo Growers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 2.98%. Calavo Growers's payout ratio is currently 148.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. StockNews.com cut Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Lake Street Capital reduced their price target on Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, January 15th.

Calavo Growers 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.