Penn Capital Management Company LLC Increases Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Penn Capital Management Company LLC increased its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) by 54.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,344 shares of the company's stock after buying an additional 58,995 shares during the quarter. Penn Capital Management Company LLC owned 0.94% of Calavo Growers worth $4,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Calavo Growers during the 4th quarter valued at $26,000. Van ECK Associates Corp grew its holdings in 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 acquiring an additional 1,039 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Calavo Growers during the fourth quarter valued at $76,000. Tower Research Capital LLC TRC grew its stake 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 last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Calavo Growers during the fourth quarter worth about $247,000. Institutional investors own 81.30% of the company's stock.

Insiders Place Their Bets

In other Calavo Growers news, CFO James E. Snyder bought 3,213 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average price of $23.33 per share, for a total transaction of $74,959.29. Following the acquisition, the chief financial officer now directly owns 5,157 shares of the company's stock, valued at approximately $120,312.81. The trade was a 165.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael A. Browne purchased 6,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were bought at an average price of $23.69 per share, with a total value of $142,140.00. Following the purchase, the executive vice president now directly owns 7,500 shares in the company, valued at approximately $177,675. The trade was a 400.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, 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 Trading Down 0.2 %

Shares of Calavo Growers stock traded down $0.07 on Tuesday, reaching $26.73. 58,610 shares of the company's stock were exchanged, compared to its average volume of 214,083. The company has a market capitalization of $476.85 million, a P/E ratio of -445.55 and a beta of 0.41. Calavo Growers, Inc. has a 52 week low of $20.30 and a 52 week 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 firm's 50-day moving average is $24.01 and its two-hundred day moving average is $25.14.

Calavo Growers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors 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 2.99%. The ex-dividend date is Tuesday, April 1st. Calavo Growers's dividend payout ratio (DPR) is currently 148.15%.

Wall Street Analysts Forecast Growth

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

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.