Raymond James Financial Inc. Takes $709,000 Position in Calavo Growers, Inc. (NASDAQ:CVGW)

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

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Calavo Growers during the 4th quarter valued at $26,000. Van ECK Associates Corp lifted its holdings in shares of Calavo Growers by 69.1% during the fourth quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after purchasing an additional 1,039 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Calavo Growers by 9.2% in the 4th quarter. Inspire Investing LLC now owns 15,713 shares of the company's stock valued at $401,000 after purchasing an additional 1,321 shares during the period. Wells Fargo & Company MN increased its stake in Calavo Growers by 19.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,942 shares of the company's stock worth $305,000 after purchasing an additional 1,969 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Calavo Growers during the 4th quarter worth about $76,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Calavo Growers

In other Calavo Growers news, EVP Michael A. Browne purchased 5,000 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were bought at an average price of $23.12 per share, for a total transaction of $115,600.00. Following the purchase, the executive vice president now directly owns 6,400 shares in the company, valued at $147,968. This trade represents a 357.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lecil E. Cole purchased 38,155 shares of the business's stock in a transaction dated Monday, April 14th. The shares were acquired at an average price of $24.60 per share, for a total transaction of $938,613.00. Following the acquisition, the chief executive officer now directly owns 574,225 shares in the company, valued at $14,125,935. This represents a 7.12 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 73,438 shares of company stock valued at $1,771,303. Insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CVGW. StockNews.com raised shares of Calavo Growers from a "hold" rating to a "buy" rating in a research report on Wednesday. Lake Street Capital reduced their target price on Calavo Growers from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, January 15th.

Calavo Growers Stock Down 2.3 %

CVGW traded down $0.59 on Friday, reaching $25.53. 181,452 shares of the company traded hands, compared to its average volume of 217,176. The company has a market cap of $455.38 million, a price-to-earnings ratio of -425.50 and a beta of 0.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The stock's 50 day moving average price is $24.62 and its 200-day moving average price is $25.09. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58.

Calavo Growers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.13%. Calavo Growers's dividend payout ratio is 148.15%.

Calavo Growers 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.