The Manufacturers Life Insurance Company Acquires Shares of 24,445 Calavo Growers, Inc. (NASDAQ:CVGW)

The Manufacturers Life Insurance Company acquired a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 24,445 shares of the company's stock, valued at approximately $623,000. The Manufacturers Life Insurance Company owned 0.14% of Calavo Growers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new stake in Calavo Growers in the fourth quarter valued at $86,000. Penn Capital Management Company LLC grew its holdings in Calavo Growers by 54.0% in the fourth quarter. Penn Capital Management Company LLC now owns 168,344 shares of the company's stock valued at $4,293,000 after purchasing an additional 58,995 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Calavo Growers by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,346 shares of the company's stock valued at $366,000 after purchasing an additional 991 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Calavo Growers by 139.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,393 shares of the company's stock valued at $138,000 after purchasing an additional 3,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Calavo Growers by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 698,701 shares of the company's stock valued at $17,817,000 after purchasing an additional 34,263 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Calavo Growers from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Calavo Growers Stock Down 2.1%

Shares of NASDAQ:CVGW opened at $26.31 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $30.58. The stock's fifty day simple moving average is $25.23 and its 200-day simple moving average is $25.06. The company has a market capitalization of $469.29 million, a P/E ratio of -438.50 and a beta of 0.42.

Calavo Growers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st were given 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 yield of 3.04%. Calavo Growers's dividend payout ratio (DPR) is presently 148.15%.

Insider Buying and Selling

In other news, CFO James E. Snyder acquired 3,213 shares of the business's stock in a transaction dated 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 acquisition, the chief financial officer now directly owns 5,157 shares in the company, valued at $120,312.81. This trade represents a 165.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lecil E. Cole acquired 38,155 shares of the business's stock in a transaction dated Monday, April 14th. The stock was purchased 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 owns 574,225 shares in the company, valued at approximately $14,125,935. This trade represents a 7.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 73,438 shares of company stock worth $1,771,303. 7.20% of the stock is owned by company insiders.

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.