Calavo Growers, Inc. (NASDAQ:CVGW) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 12.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 56,583 shares of the company’s stock after selling 8,003 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Calavo Growers were worth $1,443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVGW. Assenagon Asset Management S.A. purchased a new position in shares of Calavo Growers in the 4th quarter worth about $1,371,000. JPMorgan Chase & Co. increased its position in Calavo Growers by 221.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock worth $3,533,000 after purchasing an additional 85,272 shares in the last quarter. Magnetar Financial LLC purchased a new position in Calavo Growers in the fourth quarter valued at approximately $310,000. Barclays PLC lifted its position in Calavo Growers by 338.3% during the third quarter. Barclays PLC now owns 26,625 shares of the company’s stock valued at $759,000 after buying an additional 20,551 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Calavo Growers during the third quarter worth approximately $746,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Stock Up 2.6 %

NASDAQ CVGW opened at $24.50 on Friday. 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 fifty-two week low of $20.30 and a fifty-two week high of $30.58. The business has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $25.74. The stock has a market cap of $437.01 million, a PE ratio of -408.33 and a beta of 0.57.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The firm had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. During the same quarter last year, the company posted ($0.33) earnings per share. Calavo Growers’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts predict that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, April 1st. Calavo Growers’s dividend payout ratio (DPR) is 148.15%.

Analysts Set New Price Targets

Several research firms recently weighed in on CVGW. Lake Street Capital reduced their target price on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. StockNews.com lowered Calavo Growers from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

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.