Calavo Growers (NASDAQ:CVGW) Share Price Crosses Above Two Hundred Day Moving Average of $26.92

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.92 and traded as high as $27.67. Calavo Growers shares last traded at $27.03, with a volume of 176,028 shares changing hands.

Analysts Set New Price Targets

Separately, Stephens reissued an "equal weight" rating and set a $32.00 target price on shares of Calavo Growers in a research note on Wednesday, January 17th.

Calavo Growers Trading Down 1.4 %

The company has a market cap of $481.13 million, a price-to-earnings ratio of -40.95 and a beta of 0.65. The company's fifty day moving average price is $27.63 and its two-hundred day moving average price is $26.93. The company has a quick ratio of 1.70, a current ratio of 2.03 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.18). Calavo Growers had a negative net margin of 1.32% and a positive return on equity of 0.49%. The company had revenue of $127.60 million for the quarter, compared to the consensus estimate of $254.25 million. During the same period last year, the company earned ($0.08) earnings per share. Calavo Growers's revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts expect that Calavo Growers, Inc. will post 1.04 earnings per share for the current year.

Calavo Growers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 1st will be paid a $0.10 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. Calavo Growers's payout ratio is presently -60.61%.

Hedge Funds Weigh In On Calavo Growers

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Calavo Growers by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company's stock worth $20,259,000 after acquiring an additional 60,803 shares during the period. Kennedy Capital Management LLC raised its holdings in shares of Calavo Growers by 12.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 531,689 shares of the company's stock valued at $13,415,000 after purchasing an additional 59,797 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Calavo Growers by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 348,098 shares of the company's stock valued at $10,238,000 after purchasing an additional 26,434 shares during the period. Kent Lake Capital LLC raised its holdings in shares of Calavo Growers by 200.0% in the 4th quarter. Kent Lake Capital LLC now owns 300,000 shares of the company's stock valued at $8,823,000 after purchasing an additional 200,000 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Calavo Growers by 134.8% in the 4th quarter. Russell Investments Group Ltd. now owns 280,584 shares of the company's stock valued at $8,252,000 after buying an additional 161,100 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

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.