Martingale Asset Management L P Makes New $390,000 Investment in Calavo Growers, Inc. (NASDAQ:CVGW)

Martingale Asset Management L P acquired a new stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,297 shares of the company's stock, valued at approximately $390,000. Martingale Asset Management L P owned about 0.09% of Calavo Growers as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CVGW. R Squared Ltd purchased a new position in Calavo Growers during the fourth quarter worth approximately $26,000. Van ECK Associates Corp raised its stake in shares of Calavo Growers by 69.1% during the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock worth $65,000 after buying an additional 1,039 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Calavo Growers in the 4th quarter valued at $76,000. Janus Henderson Group PLC purchased a new stake in Calavo Growers in the 3rd quarter worth $219,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Calavo Growers during the fourth quarter valued at $247,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Calavo Growers Price Performance

NASDAQ CVGW traded up $1.51 during trading hours on Friday, hitting $26.17. 455,049 shares of the company's stock traded hands, compared to its average volume of 210,764. The company has a market capitalization of $466.79 million, a PE ratio of -436.17 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The firm's 50-day moving average is $23.59 and its 200-day moving average is $25.22.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The company had revenue of $169.96 million for the quarter, compared to analysts' expectations of $161.99 million. During the same quarter in the previous year, the business posted ($0.33) EPS. The business's quarterly revenue was up 19.5% compared to the same quarter last year. Equities analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 1st. Calavo Growers's dividend payout ratio (DPR) is presently 148.15%.

Wall Street Analysts Forecast Growth

CVGW has been the subject of several research reports. Lake Street Capital cut their price objective on Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. StockNews.com cut Calavo Growers from a "buy" rating to a "hold" rating in a research report on Thursday.

Insider Activity

In other news, CFO James E. Snyder bought 3,213 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average price of $23.33 per share, with a total value of $74,959.29. Following the purchase, the chief financial officer now owns 5,157 shares in the company, valued at approximately $120,312.81. The trade was a 165.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael A. Browne bought 6,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was purchased at an average cost of $23.69 per share, with a total value of $142,140.00. Following the completion of the transaction, the executive vice president now owns 7,500 shares in the company, valued at $177,675. This represents a 400.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 73,438 shares of company stock valued at $1,771,303. 7.20% of the stock is currently owned by company insiders.

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.