Lenox Wealth Advisors LLC reduced its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 33.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,041 shares of the company’s stock after selling 2,000 shares during the quarter. Lenox Wealth Advisors LLC’s holdings in Calavo Growers were worth $390,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. We Are One Seven LLC boosted its position in shares of Calavo Growers by 799.4% during the first quarter. We Are One Seven LLC now owns 1,430 shares of the company’s stock worth $132,000 after buying an additional 1,271 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Calavo Growers during the second quarter worth about $144,000. SG Americas Securities LLC acquired a new position in shares of Calavo Growers during the first quarter worth about $142,000. Cim LLC acquired a new position in shares of Calavo Growers during the second quarter worth about $206,000. Finally, Amalgamated Bank acquired a new position in shares of Calavo Growers during the first quarter worth about $212,000. 90.69% of the stock is owned by institutional investors.
In related news, Director Der Kar Scott Van sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $100.00, for a total transaction of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Lecil E. Cole sold 100,296 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $103.68, for a total value of $10,398,689.28. Following the transaction, the chairman now directly owns 571,071 shares of the company’s stock, valued at $59,208,641.28. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.
NASDAQ CVGW traded up $0.12 during trading hours on Tuesday, hitting $98.74. 4,629 shares of the company traded hands, compared to its average volume of 160,451. Calavo Growers, Inc. has a twelve month low of $68.70 and a twelve month high of $108.00. The stock has a market capitalization of $1.70 billion, a PE ratio of 46.36 and a beta of 0.47.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, September 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.78 by $0.08. Calavo Growers had a return on equity of 18.68% and a net margin of 4.04%. The firm had revenue of $296.50 million during the quarter, compared to analysts’ expectations of $305.12 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Calavo Growers, Inc. will post 2.94 earnings per share for the current fiscal year.
The business also recently declared an annual dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, November 15th. This is a boost from Calavo Growers’s previous annual dividend of $0.95. This represents a yield of 1%. Calavo Growers’s dividend payout ratio is 44.60%.
CVGW has been the subject of several recent research reports. Zacks Investment Research cut Calavo Growers from a “hold” rating to a “sell” rating in a research report on Friday, June 15th. BidaskClub raised Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 19th. Vertical Group cut Calavo Growers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Lake Street Capital set a $109.00 price objective on Calavo Growers and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Buckingham Research cut Calavo Growers from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Tuesday, September 4th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $101.50.
Calavo Growers Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.
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