Calavo Growers, Inc. (NASDAQ:CVGW) Sees Large Growth in Short Interest

Calavo Growers, Inc. (NASDAQ:CVGW - Get Free Report) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 555,600 shares, a growth of 31.0% from the April 30th total of 424,200 shares. Based on an average daily volume of 210,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 3.3% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Calavo Growers from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Insider Transactions at Calavo Growers

In other Calavo Growers news, CEO Lecil E. Cole acquired 38,155 shares of the firm'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 completion of the acquisition, the chief executive officer now directly owns 574,225 shares of the company's stock, valued at $14,125,935. This trade represents a 7.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO James E. Snyder purchased 3,213 shares of the business's stock in a transaction on Thursday, April 10th. The shares were bought at an average cost of $23.33 per share, for a total transaction of $74,959.29. Following the purchase, the chief financial officer now owns 5,157 shares of the company's stock, valued at $120,312.81. This trade represents a 165.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 73,438 shares of company stock worth $1,771,303 over the last quarter. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calavo Growers

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Calavo Growers in the fourth quarter worth $26,000. New York State Teachers Retirement System acquired a new position in shares of Calavo Growers during the 1st quarter worth $36,000. CWM LLC increased its stake in shares of Calavo Growers by 5,960.5% during the 1st quarter. CWM LLC now owns 2,303 shares of the company's stock worth $55,000 after purchasing an additional 2,265 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of 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 purchasing an additional 1,039 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Calavo Growers during the 4th quarter worth $76,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Calavo Growers Stock Performance

Shares of NASDAQ:CVGW traded down $0.07 during trading on Thursday, reaching $26.62. 138,894 shares of the company's stock traded hands, compared to its average volume of 223,024. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. Calavo Growers has a 12 month low of $20.30 and a 12 month high of $30.58. The company has a 50 day moving average of $25.74 and a 200-day moving average of $24.96. The stock has a market capitalization of $474.84 million, a P/E ratio of -443.00 and a beta of 0.42.

Calavo Growers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st were given a $0.20 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. Calavo Growers's dividend payout ratio (DPR) is presently 148.15%.

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.