Numerai GP LLC purchased a new position in Calavo Growers, Inc. (NASDAQ:CVGW – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,576 shares of the company’s stock, valued at approximately $247,000.
A number of other institutional investors have also recently made changes to their positions in CVGW. Point72 Hong Kong Ltd bought a new position in shares of Calavo Growers in the 1st quarter worth $37,000. FMR LLC increased its holdings in shares of Calavo Growers by 102.2% in the 2nd quarter. FMR LLC now owns 910 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of Calavo Growers in the 1st quarter worth $55,000. Lazard Asset Management LLC bought a new position in shares of Calavo Growers in the 4th quarter worth $62,000. Finally, Captrust Financial Advisors increased its holdings in shares of Calavo Growers by 17.0% in the 2nd quarter. Captrust Financial Advisors now owns 2,089 shares of the company’s stock worth $87,000 after buying an additional 303 shares during the last quarter. Institutional investors own 81.40% of the company’s stock.
Insider Buying and Selling at Calavo Growers
In other news, CEO Lecil E. Cole purchased 37,500 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was acquired at an average price of $29.94 per share, with a total value of $1,122,750.00. Following the transaction, the chief executive officer now directly owns 477,500 shares of the company’s stock, valued at approximately $14,296,350. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lecil E. Cole bought 37,500 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was purchased at an average cost of $29.94 per share, with a total value of $1,122,750.00. Following the transaction, the chief executive officer now owns 477,500 shares in the company, valued at approximately $14,296,350. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steve Hollister bought 2,000 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was bought at an average cost of $30.59 per share, with a total value of $61,180.00. Following the completion of the transaction, the director now owns 36,702 shares in the company, valued at approximately $1,122,714.18. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by corporate insiders.
Calavo Growers Price Performance
Calavo Growers (NASDAQ:CVGW – Get Free Report) last announced its quarterly earnings results on Wednesday, September 6th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.10. The business had revenue of $259.90 million during the quarter, compared to analysts’ expectations of $280.77 million. Calavo Growers had a negative net margin of 0.39% and a positive return on equity of 2.85%. The firm’s revenue for the quarter was down 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 EPS. Research analysts predict that Calavo Growers, Inc. will post 0.61 earnings per share for the current year.
Calavo Growers Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Wednesday, September 27th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 26th. This represents a $0.40 annualized dividend and a yield of 1.42%. Calavo Growers’s payout ratio is currently -181.82%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Lake Street Capital increased their target price on shares of Calavo Growers from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com assumed coverage on shares of Calavo Growers in a report on Thursday, August 17th. They set a “sell” rating on the stock.
Check Out Our Latest Report on CVGW
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 two segments, Grown and Prepared. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.
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