Canvas Wealth Advisors LLC Buys 3,811 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Canvas Wealth Advisors LLC increased its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 35.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,681 shares of the company’s stock after buying an additional 3,811 shares during the period. Canvas Wealth Advisors LLC’s holdings in Calavo Growers were worth $374,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Calavo Growers during the 4th quarter worth approximately $26,000. Point72 DIFC Ltd lifted its holdings in Calavo Growers by 42.3% in the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock valued at $93,000 after buying an additional 973 shares during the period. Janus Henderson Group PLC bought a new stake in Calavo Growers during the third quarter valued at $219,000. LMR Partners LLP acquired a new stake in Calavo Growers during the 3rd quarter worth about $253,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Calavo Growers in the 4th quarter worth about $247,000. 81.30% of the stock is currently owned by institutional investors.

Calavo Growers Stock Performance

Shares of CVGW stock opened at $22.09 on Monday. 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 $31.26. The firm has a 50 day moving average of $24.78 and a 200-day moving average of $25.75. The company has a market cap of $394.09 million, a price-to-earnings ratio of -368.17 and a beta of 0.57.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The company had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Friday, January 10th. Calavo Growers’s dividend payout ratio (DPR) is currently -1,333.33%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital cut their target price on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Calavo Growers Company 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.