SG Capital Management LLC Increases Stock Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

SG Capital Management LLC grew its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 51.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 404,278 shares of the company’s stock after buying an additional 137,325 shares during the period. Calavo Growers accounts for approximately 3.7% of SG Capital Management LLC’s holdings, making the stock its 9th biggest position. SG Capital Management LLC owned 2.27% of Calavo Growers worth $11,243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVGW. Principal Financial Group Inc. boosted its stake in Calavo Growers by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 92,696 shares of the company’s stock worth $2,578,000 after purchasing an additional 392 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Calavo Growers by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,819 shares of the company’s stock worth $357,000 after purchasing an additional 582 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Calavo Growers by 13.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock worth $274,000 after purchasing an additional 1,192 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Calavo Growers by 9.8% in the 1st quarter. BNP Paribas Financial Markets now owns 15,594 shares of the company’s stock worth $434,000 after purchasing an additional 1,388 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Calavo Growers by 23.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,030 shares of the company’s stock worth $417,000 after purchasing an additional 2,891 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday.

Calavo Growers Stock Up 0.4 %

Calavo Growers stock traded up $0.09 during midday trading on Friday, hitting $23.24. The stock had a trading volume of 200,285 shares, compared to its average volume of 191,824. The firm’s fifty day moving average is $24.00 and its two-hundred day moving average is $26.31. Calavo Growers, Inc. has a 52-week low of $20.90 and a 52-week high of $38.50. The company has a current ratio of 1.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Monday, June 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. The business had revenue of $184.38 million during the quarter, compared to analyst estimates of $157.00 million. Calavo Growers had a negative net margin of 0.18% and a positive return on equity of 4.84%. On average, equities analysts expect that Calavo Growers, Inc. will post 1.15 earnings per share for the current fiscal year.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Tuesday, July 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. Calavo Growers’s dividend payout ratio is currently -444.44%.

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.