Russell Investments Group Ltd. Grows Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Russell Investments Group Ltd. boosted its position in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 134.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,584 shares of the company's stock after acquiring an additional 161,100 shares during the quarter. Russell Investments Group Ltd. owned 1.58% of Calavo Growers worth $8,252,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in shares of Calavo Growers during the 4th quarter valued at approximately $262,000. International Assets Investment Management LLC bought a new stake in shares of Calavo Growers in the fourth quarter worth $5,190,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Calavo Growers in the 4th quarter worth approximately $850,000. Connors Investor Services Inc. boosted its position in shares of Calavo Growers by 15.8% during the 3rd quarter. Connors Investor Services Inc. now owns 158,601 shares of the company's stock valued at $3,995,000 after purchasing an additional 21,694 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Calavo Growers by 18.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 197,202 shares of the company's stock valued at $4,975,000 after purchasing an additional 31,272 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Calavo Growers Price Performance

CVGW stock traded down $0.60 during mid-day trading on Wednesday, hitting $27.96. 67,517 shares of the stock were exchanged, compared to its average volume of 175,684. The stock has a market capitalization of $497.69 million, a price-to-earnings ratio of -42.36 and a beta of 0.63. The business has a fifty day moving average price of $27.56 and a 200 day moving average price of $27.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.03 and a quick ratio of 1.70. Calavo Growers, Inc. has a 12 month low of $21.42 and a 12 month high of $38.97.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $127.60 million for the quarter, compared to the consensus estimate of $254.25 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The company's quarterly revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Calavo Growers, Inc. will post 1.04 EPS for the current year.

Calavo Growers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Monday, April 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Thursday, March 28th. Calavo Growers's dividend payout ratio is presently -60.61%.

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.