Raymond James Financial Inc. Purchases New Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Raymond James Financial Inc. bought a new stake in Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,797 shares of the company's stock, valued at approximately $709,000. Raymond James Financial Inc. owned 0.16% of Calavo Growers as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVGW. Assenagon Asset Management S.A. acquired a new position in shares of Calavo Growers in the fourth quarter worth $1,371,000. JPMorgan Chase & Co. grew its stake in shares of Calavo Growers by 221.1% in the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company's stock worth $3,533,000 after acquiring an additional 85,272 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Calavo Growers in the fourth quarter worth $310,000. Martingale Asset Management L P acquired a new position in shares of Calavo Growers in the fourth quarter worth $390,000. Finally, Vanguard Group Inc. grew its stake in shares of Calavo Growers by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,148,505 shares of the company's stock worth $29,287,000 after acquiring an additional 22,777 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company's stock.

Calavo Growers Stock Performance

Shares of CVGW traded down $0.46 during mid-day trading on Monday, hitting $25.08. 19,120 shares of the company's stock were exchanged, compared to its average volume of 216,932. Calavo Growers, Inc. has a fifty-two week low of $20.30 and a fifty-two week high of $30.58. The firm has a market capitalization of $447.37 million, a P/E ratio of -418.00 and a beta of 0.42. The business's 50 day moving average is $24.62 and its two-hundred day moving average is $25.06. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.19%. Calavo Growers's dividend payout ratio (DPR) is presently 148.15%.

Analyst Ratings Changes

CVGW has been the subject of a number of analyst reports. Lake Street Capital lowered 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 note on Wednesday, January 15th. StockNews.com upgraded shares of Calavo Growers from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th.

Insider Transactions at Calavo Growers

In other Calavo Growers news, EVP Michael A. Browne acquired 6,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was acquired at an average cost 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. This trade represents a 400.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lecil E. Cole acquired 38,155 shares of the company's stock in a transaction dated Monday, April 14th. The shares were acquired at an average cost of $24.60 per share, with a total value of $938,613.00. Following the completion of the purchase, the chief executive officer now owns 574,225 shares in the company, valued at approximately $14,125,935. This represents a 7.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 73,438 shares of company stock valued at $1,771,303 in the last ninety days. 7.20% of the stock is currently owned by company insiders.

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.