New York State Teachers Retirement System Has $1.07 Million Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Posted by Defense World Staff on Oct 25th, 2023

New York State Teachers Retirement System reduced its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW – Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,889 shares of the company’s stock after selling 900 shares during the period. New York State Teachers Retirement System owned about 0.21% of Calavo Growers worth $1,071,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CVGW. Point72 Hong Kong Ltd acquired a new stake in shares of Calavo Growers during the 1st quarter valued at about $37,000. FMR LLC boosted its position in shares of Calavo Growers by 102.2% during the 2nd quarter. FMR LLC now owns 910 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Calavo Growers during the 1st quarter valued at about $55,000. Lazard Asset Management LLC acquired a new stake in shares of Calavo Growers during the 4th quarter valued at about $62,000. Finally, Captrust Financial Advisors boosted its position in Calavo Growers by 17.0% in the second quarter. Captrust Financial Advisors now owns 2,089 shares of the company’s stock valued at $87,000 after buying an additional 303 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Calavo Growers from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Lake Street Capital boosted their price target on shares of Calavo Growers from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, September 7th.

Check Out Our Latest Report on Calavo Growers

Calavo Growers Price Performance

NASDAQ:CVGW opened at $25.13 on Wednesday. Calavo Growers, Inc. has a 12 month low of $22.64 and a 12 month high of $38.97. The firm has a market cap of $446.31 million, a PE ratio of -114.23 and a beta of 0.77. The company has a quick ratio of 1.10, a current ratio of 1.48 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $28.58 and its two-hundred day moving average price is $31.09.

Calavo Growers (NASDAQ:CVGW – Get Free Report) last announced its earnings results on Wednesday, September 6th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. Calavo Growers had a negative net margin of 0.39% and a positive return on equity of 2.85%. The company had revenue of $259.90 million during the quarter, compared to the consensus estimate of $280.77 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was down 24.0% on a year-over-year basis. On average, equities analysts anticipate that Calavo Growers, Inc. will post 0.64 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Shareholders of record on Wednesday, September 27th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, September 26th. Calavo Growers’s dividend payout ratio is presently -181.82%.

About Calavo Growers

(Free Report)

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.