Calavo Growers, Inc. (NASDAQ:CVGW) Short Interest Down 20.3% in August

Key Points

• Short interest in Calavo Growers, Inc. (NASDAQ:CVGW) decreased by 20.3% in August, dropping from 613,800 shares to 489,200 shares.
• Calavo Growers reported $0.40 earnings per share for the previous quarter, missing analysts' expectations of $0.53, while revenue came in at $190.55 million.
• Institutional investors hold 81.30% of Calavo Growers' stock, with notable increases in holdings from firms like Nuance Investments LLC and Vanguard Group Inc.

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 489,200 shares, a decline of 20.3% from the July 31st total of 613,800 shares. Approximately 2.9% of the company's shares are sold short. Based on an average trading volume of 312,400 shares, the short-interest ratio is currently 1.6 days. Based on an average trading volume of 312,400 shares, the short-interest ratio is currently 1.6 days. Approximately 2.9% of the company's shares are sold short.

Calavo Growers Stock Down 1.4%

Shares of Calavo Growers stock traded down $0.39 during trading hours on Friday, hitting $27.37. 223,863 shares of the company's stock traded hands, compared to its average volume of 163,627. The stock has a 50 day simple moving average of $27.02 and a 200-day simple moving average of $25.96. The company has a quick ratio of 1.54, a current ratio of 2.30 and a debt-to-equity ratio of 0.02. The company has a market cap of $488.55 million, a PE ratio of 31.10 and a beta of 0.39. Calavo Growers has a twelve month low of $21.46 and a twelve month high of $30.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $178.82 million during the quarter, compared to the consensus estimate of $195.20 million. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The company's revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. Equities research analysts anticipate that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.9%. Calavo Growers's dividend payout ratio (DPR) is presently 137.93%.

Analyst Ratings Changes

CVGW has been the subject of a number of research analyst reports. Wall Street Zen downgraded Calavo Growers from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Lake Street Capital upped their price objective on Calavo Growers from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $40.00.

Hedge Funds Weigh In On Calavo Growers

Several large investors have recently modified their holdings of CVGW. Old West Investment Management LLC bought a new position in shares of Calavo Growers during the second quarter worth about $11,364,000. Balyasny Asset Management L.P. lifted its holdings in Calavo Growers by 1,873.8% in the second quarter. Balyasny Asset Management L.P. now owns 226,793 shares of the company's stock worth $6,030,000 after acquiring an additional 215,303 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Calavo Growers by 588.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 236,579 shares of the company's stock worth $6,291,000 after acquiring an additional 202,221 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Calavo Growers by 91.6% in the first quarter. Goldman Sachs Group Inc. now owns 275,452 shares of the company's stock worth $6,608,000 after acquiring an additional 131,674 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Calavo Growers in the second quarter worth about $3,102,000. Institutional investors own 81.30% of the company's stock.

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.